Mednax Inc. (NYSE:MD) Given Consensus Recommendation of “Buy” by Brokerages
Mednax Inc. (NYSE:MD) has been given an average rating of “Buy” by the ten brokerages that are currently covering the firm. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $75.63.
Several brokerages have issued reports on MD. Mizuho restated a “buy” rating and set a $79.00 target price on shares of Mednax in a research report on Tuesday. Jefferies Group decreased their target price on shares of Mednax from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 26th. Citigroup Inc. decreased their target price on shares of Mednax from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 17th. Zacks Investment Research lowered shares of Mednax from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Mednax from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th.
Shares of Mednax (NYSE:MD) traded up 0.566% during midday trading on Wednesday, hitting $64.865. 280,354 shares of the stock were exchanged. Mednax has a 12-month low of $61.40 and a 12-month high of $85.10. The firm has a market cap of $5.98 billion, a PE ratio of 18.104 and a beta of 0.56. The firm has a 50-day moving average price of $65.57 and a 200 day moving average price of $68.19.
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Mednax (NYSE:MD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by $0.04. The firm earned $772 million during the quarter, compared to analyst estimates of $775.68 million. Mednax had a net margin of 11.17% and a return on equity of 14.88%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. Analysts predict that Mednax will post $4.14 earnings per share for the current fiscal year.
In other Mednax news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $65.01, for a total value of $97,515.00. Following the transaction, the director now directly owns 12,755 shares in the company, valued at approximately $829,202.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Mednax by 0.6% in the second quarter. Vanguard Group Inc. now owns 6,873,895 shares of the company’s stock worth $497,877,000 after buying an additional 38,874 shares during the period. William Blair Investment Management LLC increased its stake in Mednax by 5.9% in the second quarter. William Blair Investment Management LLC now owns 5,061,763 shares of the company’s stock worth $366,623,000 after buying an additional 283,674 shares during the period. BlackRock Fund Advisors increased its stake in Mednax by 3.6% in the second quarter. BlackRock Fund Advisors now owns 3,577,966 shares of the company’s stock worth $259,152,000 after buying an additional 122,749 shares during the period. State Street Corp increased its stake in Mednax by 3.8% in the first quarter. State Street Corp now owns 3,169,899 shares of the company’s stock worth $204,837,000 after buying an additional 116,369 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Mednax by 2.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,868,546 shares of the company’s stock worth $207,769,000 after buying an additional 68,668 shares during the period. Institutional investors own 97.75% of the company’s stock.
MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. The Company’s national network consists of approximately 3,240 affiliated physicians, including approximately 1,100 physicians who provide neonatal clinical care, in over 30 states and Puerto Rico, within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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