BMO Capital Markets Initiates Coverage on Mednax, Inc (MD)
BMO Capital Markets assumed coverage on shares of Mednax, Inc (NYSE:MD) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Several other equities research analysts also recently issued reports on the stock. BidaskClub upgraded shares of Mednax from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Robert W. Baird reiterated a “hold” rating and issued a $47.00 target price on shares of Mednax in a research note on Sunday, September 3rd. KeyCorp upgraded shares of Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 target price for the company in a research note on Sunday, September 17th. Stephens upgraded shares of Mednax from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $55.00 to $68.00 in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $53.00 target price (up from $50.00) on shares of Mednax in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $56.63.
Mednax (NYSE:MD) traded up 0.28% during trading on Monday, hitting $42.29. The stock had a trading volume of 2,017,290 shares. The stock has a 50 day moving average price of $43.06 and a 200 day moving average price of $52.91. Mednax has a 12-month low of $40.78 and a 12-month high of $72.13. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 13.47 and a beta of 0.37.
Mednax (NYSE:MD) last issued its earnings results on Friday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.04. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The business had revenue of $843.00 million during the quarter, compared to the consensus estimate of $849.49 million. During the same period last year, the business posted $1.03 EPS. Mednax’s revenue was up 9.2% on a year-over-year basis. Equities research analysts forecast that Mednax will post $3.30 earnings per share for the current year.
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In other Mednax news, insider John C. Pepia sold 3,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $42.85, for a total value of $128,550.00. Following the transaction, the insider now directly owns 35,569 shares of the company’s stock, valued at approximately $1,524,131.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in MD. Thompson Siegel & Walmsley LLC increased its holdings in shares of Mednax by 95.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 2,170,741 shares of the company’s stock worth $131,048,000 after purchasing an additional 1,062,584 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of Mednax by 8,590.5% during the second quarter. Balyasny Asset Management LLC now owns 1,060,247 shares of the company’s stock worth $64,007,000 after purchasing an additional 1,048,047 shares during the period. HealthCor Management L.P. bought a new position in shares of Mednax during the second quarter worth approximately $56,913,000. Fiduciary Management Inc. WI increased its holdings in shares of Mednax by 132.6% during the second quarter. Fiduciary Management Inc. WI now owns 1,029,973 shares of the company’s stock worth $62,179,000 after purchasing an additional 587,248 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Mednax by 33.1% during the first quarter. Clearbridge Investments LLC now owns 2,048,277 shares of the company’s stock worth $142,109,000 after purchasing an additional 508,863 shares during the period.
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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