Mednax (MD) Now Covered by Piper Jaffray Companies
Research analysts at Piper Jaffray Companies began coverage on shares of Mednax (NYSE:MD) in a research report issued on Wednesday. The firm set an “overweight” rating and a $58.00 price target on the stock. Piper Jaffray Companies’ price target points to a potential upside of 13.57% from the stock’s current price.
Several other research analysts have also recently issued reports on MD. Robert W. Baird reaffirmed a “hold” rating and issued a $47.00 target price on shares of Mednax in a report on Sunday, September 3rd. KeyCorp raised shares of 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. Jefferies Group reissued a “hold” rating and set a $46.00 price objective on shares of Mednax in a report on Tuesday, October 3rd. Zacks Investment Research raised shares of Mednax from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. 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 for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.70.
Shares of Mednax (NYSE:MD) traded down $0.51 during trading on Wednesday, reaching $51.07. 1,400,100 shares of the company’s stock traded hands, compared to its average volume of 1,094,698. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $4,830.74, a PE ratio of 15.77, a PEG ratio of 1.66 and a beta of 0.40. Mednax has a twelve month low of $40.56 and a twelve month high of $72.13.
Mednax (NYSE:MD) last issued its earnings results on Wednesday, November 1st. The company reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The business had revenue of $868.95 million during the quarter, compared to analysts’ expectations of $864.78 million. Mednax had a net margin of 7.76% and a return on equity of 10.80%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. research analysts forecast that Mednax will post 3.1 earnings per share for the current fiscal year.
In other Mednax news, insider John C. Pepia sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $51.58, for a total transaction of $154,740.00. Following the completion of the sale, the insider now directly owns 35,569 shares of the company’s stock, valued at $1,834,649.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the director now directly owns 44,215 shares of the company’s stock, valued at $1,883,116.85. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Mednax by 0.3% during the second quarter. BlackRock Inc. now owns 8,257,495 shares of the company’s stock valued at $498,505,000 after buying an additional 28,155 shares during the last quarter. Vanguard Group Inc. increased its holdings in Mednax by 0.5% during the second quarter. Vanguard Group Inc. now owns 7,551,130 shares of the company’s stock valued at $455,862,000 after buying an additional 38,645 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Mednax by 19.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,598,925 shares of the company’s stock valued at $112,065,000 after buying an additional 428,184 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Mednax by 22.6% during the second quarter. Victory Capital Management Inc. now owns 2,423,865 shares of the company’s stock valued at $146,329,000 after buying an additional 446,074 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Mednax by 4.8% during the third quarter. Nordea Investment Management AB now owns 2,323,695 shares of the company’s stock valued at $100,198,000 after buying an additional 106,883 shares during the last quarter. 98.48% of the stock is owned by institutional investors and hedge funds.
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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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