MEDNAX (NYSE:MD) Price Target Lowered to $31.00 at Truist Securities

MEDNAX (NYSE:MD) had its price target trimmed by Truist Securities from $37.00 to $31.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts have also issued reports on MD. SVB Leerink assumed coverage on shares of MEDNAX in a research report on Monday, September 27th. They set a market perform rating and a $29.00 target price on the stock. Truist reduced their price target on shares of MEDNAX from $37.00 to $31.00 and set a hold rating on the stock in a research report on Wednesday. Mizuho increased their price target on shares of MEDNAX from $30.00 to $32.00 and gave the stock a neutral rating in a research report on Monday, August 9th. Finally, Stifel Nicolaus began coverage on shares of MEDNAX in a research report on Tuesday, June 22nd. They set a hold rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $29.00.

Shares of MD opened at $26.49 on Wednesday. MEDNAX has a 52 week low of $12.47 and a 52 week high of $35.67. The firm has a market cap of $2.29 billion, a P/E ratio of -42.05, a price-to-earnings-growth ratio of 1.15 and a beta of 2.18. The firm’s 50-day simple moving average is $30.51 and its 200 day simple moving average is $29.72. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.14 and a current ratio of 2.14.

MEDNAX (NYSE:MD) last announced its earnings results on Friday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. MEDNAX had a negative net margin of 2.93% and a positive return on equity of 12.13%. The firm had revenue of $473.00 million for the quarter, compared to analyst estimates of $453.12 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts forecast that MEDNAX will post 1.31 earnings per share for the current year.

In other news, CEO Mark S. Ordan sold 95,000 shares of the firm’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $35.09, for a total transaction of $3,333,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Md Medel sold 1,270 shares of the firm’s stock in a transaction on Monday, October 4th. The shares were sold at an average price of $29.00, for a total transaction of $36,830.00. The disclosure for this sale can be found here. In the last three months, insiders sold 105,069 shares of company stock valued at $3,655,028. 2.80% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Earnest Partners LLC raised its stake in MEDNAX by 19.4% during the first quarter. Earnest Partners LLC now owns 7,086,303 shares of the company’s stock worth $180,488,000 after buying an additional 1,149,651 shares during the last quarter. Granite Investment Partners LLC bought a new position in MEDNAX during the first quarter worth $15,254,000. FMR LLC raised its stake in MEDNAX by 13.7% during the second quarter. FMR LLC now owns 4,886,336 shares of the company’s stock worth $147,323,000 after buying an additional 588,474 shares during the last quarter. M&G Investment Management Ltd. acquired a new stake in MEDNAX in the second quarter worth $10,777,000. Finally, Renaissance Technologies LLC acquired a new stake in MEDNAX in the second quarter worth $9,386,000.

About MEDNAX

MEDNAX, Inc provides physician services including newborn, anesthesia, maternal-fetal, tele radiology, pediatric cardiology and other pediatric subspecialty care. The firm’s solution include anesthesiology & pain management, prenatal, neonatal, pediatric, radiology, tele radiology, revenue cycle management and perioperative improvement consulting.

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Analyst Recommendations for MEDNAX (NYSE:MD)

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