$867.22 Million in Sales Expected for Mednax, Inc (MD) This Quarter
Equities research analysts expect that Mednax, Inc (NYSE:MD) will announce sales of $867.22 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Mednax’s earnings, with estimates ranging from $848.69 million to $886.40 million. Mednax reported sales of $828.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The firm is expected to issue its next quarterly earnings results before the market opens on Wednesday, November 1st.
On average, analysts expect that Mednax will report full year sales of $867.22 million for the current fiscal year, with estimates ranging from $3.39 billion to $3.46 billion. For the next fiscal year, analysts expect that the business will post sales of $3.64 billion per share, with estimates ranging from $3.50 billion to $3.74 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Mednax.
Mednax (NYSE:MD) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $843.00 million during the quarter, compared to the consensus estimate of $849.49 million. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share.
MD has been the topic of a number of research reports. Robert W. Baird reiterated a “hold” rating and issued a $47.00 target price on shares of Mednax in a report on Sunday, September 3rd. Zacks Investment Research upgraded Mednax from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $46.00 target price on shares of Mednax in a report on Tuesday, October 3rd. BMO Capital Markets initiated coverage on Mednax in a report on Monday, October 16th. They issued a “market perform” rating and a $46.00 target price on the stock. Finally, Mizuho reiterated a “neutral” rating and issued a $48.00 target price (down previously from $62.00) on shares of Mednax in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $55.44.
Shares of Mednax (NYSE MD) opened at 44.51 on Monday. Mednax has a 12-month low of $40.78 and a 12-month high of $72.13. The company has a 50-day moving average of $42.97 and a 200-day moving average of $52.21. The stock has a market capitalization of $4.10 billion, a P/E ratio of 14.18 and a beta of 0.37.
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In related news, insider John C. Pepia sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $42.85, for a total value of $128,550.00. Following the transaction, the insider now owns 35,569 shares in the company, valued at $1,524,131.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Eagle Boston Investment Management Inc. increased its holdings in Mednax by 12.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 191,636 shares of the company’s stock worth $11,569,000 after buying an additional 21,895 shares during the last quarter. Swiss National Bank increased its holdings in Mednax by 3.0% in the second quarter. Swiss National Bank now owns 341,700 shares of the company’s stock worth $20,628,000 after buying an additional 9,900 shares during the last quarter. South Dakota Investment Council increased its holdings in Mednax by 24.5% in the second quarter. South Dakota Investment Council now owns 50,800 shares of the company’s stock worth $3,067,000 after buying an additional 10,000 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in Mednax by 527.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 15,228 shares of the company’s stock worth $919,000 after buying an additional 12,800 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Mednax by 55.2% in the first quarter. JPMorgan Chase & Co. now owns 79,610 shares of the company’s stock worth $5,524,000 after buying an additional 28,301 shares during the last quarter.
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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