Analysts Anticipate Mednax, Inc (MD) Will Post Quarterly Sales of $850.54 Million
Equities research analysts expect Mednax, Inc (NYSE:MD) to post sales of $850.54 million for the current quarter, according to Zacks. Nine analysts have issued estimates for Mednax’s earnings, with estimates ranging from $837.50 million to $867.30 million. Mednax reported sales of $771.76 million in the same quarter last year, which indicates a positive year over year growth rate of 10.2%. The business is expected to announce its next earnings results on Thursday, July 27th.
On average, analysts expect that Mednax will report full year sales of $850.54 million for the current year, with estimates ranging from $3.43 billion to $3.54 billion. For the next year, analysts forecast that the business will post sales of $3.76 billion per share, with estimates ranging from $3.55 billion to $3.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Mednax.
Mednax (NYSE:MD) last released its earnings results on Thursday, May 4th. The company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $835.60 million during the quarter, compared to the consensus estimate of $837.01 million. Mednax had a net margin of 9.54% and a return on equity of 12.81%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS.
Several equities analysts recently commented on MD shares. Zacks Investment Research upgraded shares of Mednax from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Bank of America Corporation cut shares of Mednax from a “buy” rating to an “underperform” rating in a research note on Thursday, May 4th. Robert W. Baird cut shares of Mednax from an “outperform” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Tuesday, March 21st. Jefferies Group LLC reiterated a “hold” rating on shares of Mednax in a research note on Monday, April 10th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $69.00 target price on shares of Mednax in a research note on Friday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. Mednax currently has an average rating of “Hold” and an average price target of $66.44.
In other news, Director Md Pascal J. Goldschmidt sold 1,969 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $57.57, for a total value of $113,355.33. Following the completion of the transaction, the director now owns 18,072 shares in the company, valued at approximately $1,040,405.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vivian Lopez-Blanco sold 7,778 shares of the stock in a transaction 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 approximately $2,864,626.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,074 shares of company stock valued at $1,830,508. Corporate insiders own 2.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Fenimore Asset Management Inc. raised its stake in Mednax by 7.3% in the first quarter. Fenimore Asset Management Inc. now owns 858,880 shares of the company’s stock valued at $59,589,000 after buying an additional 58,070 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Mednax by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 30,620 shares of the company’s stock valued at $2,124,000 after buying an additional 450 shares during the last quarter. Norges Bank purchased a new stake in Mednax during the fourth quarter valued at $56,794,000. Thrivent Financial for Lutherans raised its stake in Mednax by 9.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,780 shares of the company’s stock valued at $1,052,000 after buying an additional 1,360 shares during the last quarter. Finally, Cigna Investments Inc. New purchased a new stake in Mednax during the fourth quarter valued at $224,000.
Mednax (MD) traded up 0.60% during midday trading on Friday, hitting $59.97. 2,094,159 shares of the stock traded hands. The company has a 50-day moving average of $55.76 and a 200-day moving average of $64.91. Mednax has a 1-year low of $53.80 and a 1-year high of $76.96. The stock has a market cap of $5.54 billion, a PE ratio of 17.90 and a beta of 0.52.
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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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