$851.11 Million in Sales Expected for Mednax, Inc (NYSE:MD) This Quarter
Equities research analysts predict that Mednax, Inc (NYSE:MD) will announce sales of $851.11 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Mednax’s earnings, with estimates ranging from $837.50 million to $867.30 million. Mednax posted sales of $771.76 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The business is scheduled to issue its next quarterly earnings results before the market opens on Friday, July 28th.
On average, analysts expect that Mednax will report full-year sales of $851.11 million for the current financial year, with estimates ranging from $3.43 billion to $3.54 billion. For the next year, analysts forecast that the business will report sales of $3.73 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 announced 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. The firm had revenue of $835.60 million for 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 business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share.
A number of analysts recently weighed in on MD shares. ValuEngine downgraded Mednax from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Mednax from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. TheStreet downgraded Mednax from a “b-” rating to a “c+” rating in a research report on Tuesday, May 16th. Bank of America Corporation downgraded Mednax from a “buy” rating to an “underperform” rating in a report on Thursday, May 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $53.00 target price (up previously from $50.00) on shares of Mednax in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company’s stock. Mednax presently has a consensus rating of “Hold” and an average price target of $65.89.
Mednax (NYSE MD) traded up 0.87% on Friday, hitting $58.11. 456,331 shares of the stock were exchanged. Mednax has a 52-week low of $53.80 and a 52-week high of $76.04. The company has a 50-day moving average price of $57.74 and a 200-day moving average price of $63.76. The firm has a market cap of $5.37 billion, a PE ratio of 17.35 and a beta of 0.44.
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In related news, insider Joseph M. Calabro sold 23,327 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $55.00, for a total transaction of $1,282,985.00. Following the transaction, the insider now directly owns 296,379 shares in the company, valued at approximately $16,300,845. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Manuel Kadre purchased 21,704 shares of the company’s stock in a transaction on Friday, May 5th. The shares were purchased at an average price of $55.79 per share, for a total transaction of $1,210,866.16. Following the purchase, the director now owns 111,255 shares in the company, valued at approximately $6,206,916.45. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 33,074 shares of company stock valued at $1,830,508. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Mednax by 0.5% in the first quarter. PNC Financial Services Group Inc. now owns 9,099 shares of the company’s stock worth $632,000 after buying an additional 47 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Mednax by 3.2% in the first quarter. Pacer Advisors Inc. now owns 1,795 shares of the company’s stock worth $125,000 after buying an additional 55 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Mednax by 5.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,604 shares of the company’s stock worth $106,000 after buying an additional 77 shares during the last quarter. Morgan Dempsey Capital Management LLC boosted its position in shares of Mednax by 3.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,270 shares of the company’s stock worth $157,000 after buying an additional 78 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Mednax by 3.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,122 shares of the company’s stock worth $217,000 after buying an additional 92 shares during the last quarter.
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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