Traders Buy Large Volume of Mednax Put Options (MD)

Mednax, Inc (NYSE:MD) was the target of unusually large options trading activity on Friday. Investors acquired 881 put options on the stock. This represents an increase of approximately 890% compared to the typical volume of 89 put options.

Several research firms recently issued reports on MD. Citigroup cut their price target on shares of Mednax from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Jefferies Group reaffirmed a “hold” rating and issued a $44.00 target price on shares of Mednax in a report on Friday, November 3rd. Robert W. Baird increased their target price on shares of Mednax from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. KeyCorp raised shares of Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 target price for the company in a report on Sunday, September 17th. Finally, Zacks Investment Research raised shares of Mednax from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $54.50.

In related news, Director Cesar L. Alvarez sold 10,668 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $42.59, for a total transaction of $454,350.12. Following the completion of the transaction, the director now directly owns 44,215 shares of the company’s stock, valued at $1,883,116.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John C. Pepia sold 3,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $42.85, for a total transaction of $128,550.00. Following the transaction, the insider now directly owns 35,569 shares of the company’s stock, valued at $1,524,131.65. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in MD. Thompson Siegel & Walmsley LLC grew its position in shares of Mednax by 95.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,170,741 shares of the company’s stock valued at $131,048,000 after purchasing an additional 1,062,584 shares during the last quarter. Balyasny Asset Management LLC boosted its position in 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 acquiring an additional 1,048,047 shares during the last quarter. HealthCor Management L.P. acquired a new stake in Mednax during the second quarter worth approximately $56,913,000. Toronto Dominion Bank boosted its position in Mednax by 19,942.3% during the third quarter. Toronto Dominion Bank now owns 723,928 shares of the company’s stock worth $31,211,000 after acquiring an additional 720,316 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Mednax by 987.5% during the third quarter. JPMorgan Chase & Co. now owns 756,215 shares of the company’s stock worth $32,607,000 after acquiring an additional 686,678 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Shares of Mednax (NYSE:MD) opened at $50.60 on Monday. The company has a market cap of $4,740.00, a P/E ratio of 15.47, a PEG ratio of 1.63 and a beta of 0.40. Mednax has a 1 year low of $40.56 and a 1 year high of $72.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37.

Mednax (NYSE:MD) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $868.95 million for the quarter, compared to analyst estimates of $864.78 million. Mednax had a net margin of 7.76% and a return on equity of 10.80%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. sell-side analysts predict that Mednax will post 3.1 EPS for the current fiscal year.

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About Mednax

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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