Mednax, Inc (NYSE:MD)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $40.85 and last traded at $41.01, with a volume of 1,557,527 shares trading hands. The stock had previously closed at $43.10.
A number of brokerages have recently weighed in on MD. ValuEngine downgraded Mednax from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Mednax from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Robert W. Baird restated a “hold” rating and issued a $47.00 target price on shares of Mednax in a research note on Sunday, September 3rd. KeyCorp upgraded Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a research note on Sunday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $53.00 target price (up previously from $50.00) on shares of Mednax in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Mednax has an average rating of “Hold” and a consensus target price of $58.89.
The company has a 50 day moving average price of $43.38 and a 200-day moving average price of $56.60. The company has a market cap of $3.80 billion, a P/E ratio of 13.12 and a beta of 0.40.
Mednax (NYSE:MD) last issued its earnings results on Friday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Equities analysts expect that Mednax, Inc will post $3.31 earnings per share for the current fiscal year.
In related news, insider John C. Pepia sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $42.85, for a total value of $128,550.00. Following the sale, the insider now owns 35,569 shares in the company, valued at $1,524,131.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in Mednax by 8.1% in the second quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock worth $117,000 after purchasing an additional 145 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Mednax by 15.3% in the second quarter. Commonwealth Bank of Australia now owns 2,205 shares of the company’s stock worth $132,000 after purchasing an additional 293 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Mednax by 8.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,500 shares of the company’s stock worth $173,000 after purchasing an additional 200 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Mednax in the second quarter worth approximately $217,000. Finally, QS Investors LLC boosted its holdings in Mednax by 0.3% in the second quarter. QS Investors LLC now owns 3,812 shares of the company’s stock worth $230,000 after purchasing an additional 12 shares during the last quarter.
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Mednax Company Profile
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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