Mednax, Inc (MD) Shares Sold by Sterling Capital Management LLC
Sterling Capital Management LLC lowered its stake in shares of Mednax, Inc (NYSE:MD) by 25.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 776,659 shares of the company’s stock after selling 271,993 shares during the period. Sterling Capital Management LLC owned approximately 0.83% of Mednax worth $33,490,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in MD. Fuller & Thaler Asset Management Inc. bought a new stake in Mednax during the third quarter worth about $103,000. Pacer Advisors Inc. grew its stake in shares of Mednax by 8.1% during the second quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock valued at $117,000 after purchasing an additional 145 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Mednax by 15.3% during the second quarter. Commonwealth Bank of Australia now owns 2,205 shares of the company’s stock valued at $132,000 after purchasing an additional 293 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Mednax by 20.0% during the second quarter. Daiwa Securities Group Inc. now owns 3,000 shares of the company’s stock valued at $181,000 after purchasing an additional 500 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in Mednax in the third quarter valued at approximately $185,000. 98.48% of the stock is owned by institutional investors and hedge funds.
Shares of Mednax, Inc (MD) traded down $0.10 during trading on Thursday, reaching $51.58. 1,146,300 shares of the company’s stock traded hands, compared to its average volume of 1,093,425. Mednax, Inc has a twelve month low of $40.56 and a twelve month high of $72.13. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.62. The firm has a market cap of $4,840.10, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.67 and a beta of 0.40.
In related news, Director Cesar L. Alvarez sold 10,668 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $42.59, for a total transaction of $454,350.12. Following the completion of the transaction, the director now directly owns 44,215 shares in the company, valued at approximately $1,883,116.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John C. Pepia sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $51.58, for a total transaction of $154,740.00. Following the transaction, the insider now owns 35,569 shares of the company’s stock, valued at $1,834,649.02. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
A number of brokerages have issued reports on MD. Piper Jaffray Companies began coverage on shares of Mednax in a research note on Wednesday. They issued an “overweight” rating and a $58.00 price objective on the stock. Jefferies Group reiterated a “hold” rating and issued a $44.00 target price on shares of Mednax in a report on Friday, November 3rd. KeyCorp upgraded shares of Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a report on Sunday, September 17th. Citigroup dropped their price objective on shares of Mednax from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Finally, BMO Capital Markets initiated coverage on shares of Mednax in a report on Monday, October 16th. They set a “market perform” rating and a $46.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Mednax has an average rating of “Hold” and an average price target of $53.70.
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MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. As of December 31, 2016, the Company’s national network consisted of over 3,600 affiliated physicians, including over 1,130 physicians providing neonatal clinical care, in 35 states and Puerto Rico, primarily within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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