Mednax, Inc (MD) Stake Lessened by JPMorgan Chase & Co.
JPMorgan Chase & Co. cut its holdings in Mednax, Inc (NYSE:MD) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,537 shares of the company’s stock after selling 10,073 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Mednax worth $4,199,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. grew its holdings in Mednax by 5.8% during the first quarter. UBS Asset Management Americas Inc. now owns 322,027 shares of the company’s stock valued at $22,342,000 after purchasing an additional 17,635 shares during the period. Pacer Advisors Inc. grew its holdings in Mednax by 3.2% during the first quarter. Pacer Advisors Inc. now owns 1,795 shares of the company’s stock valued at $125,000 after purchasing an additional 55 shares during the period. KBC Group NV grew its holdings in Mednax by 79.6% during the first quarter. KBC Group NV now owns 13,382 shares of the company’s stock valued at $928,000 after purchasing an additional 5,931 shares during the period. Prudential Financial Inc. grew its holdings in Mednax by 7.9% during the first quarter. Prudential Financial Inc. now owns 58,520 shares of the company’s stock valued at $4,060,000 after purchasing an additional 4,270 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in Mednax by 14.5% during the first quarter. OppenheimerFunds Inc. now owns 11,379 shares of the company’s stock valued at $789,000 after purchasing an additional 1,439 shares during the period.
In related news, insider John C. Pepia sold 3,000 shares of Mednax stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $42.85, for a total transaction of $128,550.00. Following the transaction, the insider now owns 35,569 shares in the company, valued at approximately $1,524,131.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by insiders.
MD has been the subject of several research reports. BidaskClub raised Mednax from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Robert W. Baird reissued a “hold” rating and set a $47.00 price objective on shares of Mednax in a report on Sunday, September 3rd. Jefferies Group LLC reissued a “hold” rating and set a $46.00 price objective on shares of Mednax in a report on Tuesday, October 3rd. KeyCorp raised Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a report on Sunday, September 17th. Finally, Mizuho reissued a “neutral” rating and set a $48.00 price objective (down from $62.00) on shares of Mednax in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.63.
Shares of Mednax, Inc (MD) opened at 43.62 on Friday. Mednax, Inc has a 52-week low of $40.78 and a 52-week high of $72.13. The stock has a market cap of $4.02 billion, a P/E ratio of 13.89 and a beta of 0.37. The firm’s 50 day moving average price is $43.10 and its 200 day moving average price is $54.06.
Mednax (NYSE:MD) last released its earnings results on Friday, July 28th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The company had revenue of $843.00 million for the quarter, compared to analysts’ expectations of $849.49 million. During the same quarter in the previous year, the company earned $1.03 EPS. Mednax’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts expect that Mednax, Inc will post $3.31 EPS for the current year.
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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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