Norges Bank acquired a new stake in shares of MEDNAX Inc (NYSE:MD) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,034,483 shares of the company’s stock, valued at approximately $34,138,000. Norges Bank owned approximately 1.18% of MEDNAX as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of MD. Bank of New York Mellon Corp lifted its holdings in MEDNAX by 39.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,764,948 shares of the company’s stock worth $82,353,000 after purchasing an additional 500,538 shares in the last quarter. United Services Automobile Association lifted its holdings in MEDNAX by 5.1% in the 3rd quarter. United Services Automobile Association now owns 28,353 shares of the company’s stock worth $1,323,000 after purchasing an additional 1,380 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in MEDNAX by 242.3% in the 3rd quarter. Renaissance Technologies LLC now owns 577,200 shares of the company’s stock worth $26,932,000 after purchasing an additional 408,577 shares in the last quarter. Deutsche Bank AG lifted its holdings in MEDNAX by 66.4% in the 3rd quarter. Deutsche Bank AG now owns 526,669 shares of the company’s stock worth $24,572,000 after purchasing an additional 210,221 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in MEDNAX by 3.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 154,814 shares of the company’s stock worth $7,224,000 after purchasing an additional 4,461 shares in the last quarter. 94.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. Jefferies Financial Group lowered their price target on MEDNAX from $37.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. Credit Suisse Group lowered their price target on MEDNAX from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Mizuho set a $36.00 price target on MEDNAX and gave the stock a “hold” rating in a report on Friday, February 8th. Zacks Investment Research cut MEDNAX from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Finally, Citigroup raised MEDNAX from a “neutral” rating to a “buy” rating and set a $34.88 price objective on the stock in a research note on Monday, January 14th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $40.44.
MEDNAX (NYSE:MD) last released its quarterly earnings data on Thursday, February 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.09. MEDNAX had a return on equity of 10.35% and a net margin of 7.37%. The business had revenue of $932.70 million for the quarter, compared to the consensus estimate of $910.08 million. During the same quarter in the previous year, the company posted $0.87 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that MEDNAX Inc will post 3.43 earnings per share for the current fiscal year.
In other news, Director Md Pascal J. Goldschmidt sold 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.40, for a total transaction of $100,320.00. Following the transaction, the director now owns 20,821 shares of the company’s stock, valued at approximately $632,958.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Joseph M. Calabro sold 12,130 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $32.91, for a total value of $399,198.30. Following the transaction, the president now directly owns 429,408 shares in the company, valued at approximately $14,131,817.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,279 shares of company stock worth $988,954. Corporate insiders own 3.40% of the company’s stock.
MEDNAX Company Profile
MEDNAX, Inc, together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology and teleradiology, pediatric cardiology, and other pediatric subspecialty physician services in the United States and Puerto Rico. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians; anesthesia and anesthesia subspecialty care services; and acute and chronic pain management services.
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