MEDNAX Inc (MD) Downgraded to “C+” at TheStreet
MEDNAX Inc (NYSE:MD) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Tuesday.
A number of other analysts also recently issued reports on the stock. Bank of America Corp downgraded shares of MEDNAX from a “buy” rating to an “underperform” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of MEDNAX from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Jefferies Group LLC restated a “hold” rating and set a $58.00 price objective on shares of MEDNAX in a report on Wednesday, April 26th. Robert W. Baird downgraded shares of MEDNAX from an “outperform” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Tuesday, March 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $69.00 price objective on shares of MEDNAX in a report on Friday, March 10th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. MEDNAX currently has a consensus rating of “Hold” and a consensus price target of $68.29.
Shares of MEDNAX (NYSE:MD) traded down 0.67% during mid-day trading on Tuesday, hitting $55.06. 267,281 shares of the company traded hands. The firm has a 50-day moving average of $62.08 and a 200-day moving average of $66.12. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 16.44 and a beta of 0.67. MEDNAX has a one year low of $53.80 and a one year high of $76.96.
MEDNAX (NYSE:MD) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. MEDNAX had a net margin of 10.21% and a return on equity of 13.59%. The business had revenue of $835.60 million during the quarter, compared to the consensus estimate of $837.01 million. During the same quarter last year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts predict that MEDNAX will post $3.61 earnings per share for the current year.
In other news, Director Enrique Sosa sold 10,668 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $69.65, for a total value of $743,026.20. Following the completion of the transaction, the director now directly owns 21,923 shares in the company, valued at $1,526,936.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vivian Lopez-Blanco sold 7,778 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $55.82, for a total transaction of $434,167.96. Following the completion of the transaction, the chief financial officer now owns 51,319 shares of the company’s stock, valued at $2,864,626.58. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in MD. BlackRock Inc. raised its position in MEDNAX by 5,766.0% in the first quarter. BlackRock Inc. now owns 8,229,340 shares of the company’s stock worth $570,952,000 after buying an additional 8,089,052 shares during the period. Price T Rowe Associates Inc. MD raised its position in MEDNAX by 6.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 8,034,055 shares of the company’s stock worth $532,256,000 after buying an additional 508,260 shares during the period. Vanguard Group Inc. raised its position in MEDNAX by 4.7% in the first quarter. Vanguard Group Inc. now owns 7,512,485 shares of the company’s stock worth $521,216,000 after buying an additional 339,932 shares during the period. FMR LLC raised its position in MEDNAX by 1.3% in the first quarter. FMR LLC now owns 5,313,581 shares of the company’s stock worth $368,656,000 after buying an additional 68,581 shares during the period. Finally, William Blair Investment Management LLC raised its position 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. Institutional investors own 99.16% 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. 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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