Equities research analysts at Piper Jaffray Companies initiated coverage on shares of Mednax (NYSE:MD) in a note issued to investors on Wednesday, Marketbeat reports. The firm set an “overweight” rating and a $58.00 price target on the stock. Piper Jaffray Companies’ target price would suggest a potential upside of 12.45% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Jefferies Group reaffirmed a “hold” rating and set a $44.00 price objective on shares of Mednax in a research report on Friday, November 3rd. KeyCorp raised Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a research report on Sunday, September 17th. Citigroup lowered their price objective on Mednax from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. BMO Capital Markets began coverage on Mednax in a research report on Monday, October 16th. They set a “market perform” rating and a $46.00 price objective for the company. Finally, Robert W. Baird upped their price objective on Mednax from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Mednax has a consensus rating of “Hold” and a consensus target price of $53.70.

Mednax (NYSE:MD) traded down $0.10 during trading hours on Wednesday, hitting $51.58. The stock had a trading volume of 1,146,378 shares, compared to its average volume of 1,093,425. The firm has a market cap of $4,820.00, a PE ratio of 15.73, a P/E/G ratio of 1.66 and a beta of 0.40. Mednax has a twelve month low of $40.56 and a twelve month high of $72.13. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.62.

Mednax (NYSE:MD) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.87 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.87. The business had revenue of $868.95 million during the quarter, compared to analysts’ expectations of $864.78 million. Mednax had a return on equity of 10.80% and a net margin of 7.76%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. research analysts forecast that Mednax will post 3.1 EPS for the current fiscal year.

In related news, Director Cesar L. Alvarez sold 10,668 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $42.59, for a total value of $454,350.12. Following the completion of the sale, the director now directly owns 44,215 shares of the company’s stock, valued at approximately $1,883,116.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John C. Pepia sold 3,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $51.58, for a total value of $154,740.00. Following the completion of the sale, the insider now directly owns 35,569 shares of the company’s stock, valued at $1,834,649.02. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. QS Investors LLC raised its stake in Mednax by 0.3% during the 2nd quarter. QS Investors LLC now owns 3,812 shares of the company’s stock valued at $230,000 after acquiring an additional 12 shares during the last quarter. Pacer Advisors Inc. raised its stake in Mednax by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock valued at $117,000 after acquiring an additional 145 shares during the last quarter. Arizona State Retirement System raised its stake in Mednax by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 39,200 shares of the company’s stock valued at $2,367,000 after acquiring an additional 200 shares during the last quarter. Commonwealth Bank of Australia raised its stake in Mednax by 15.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,205 shares of the company’s stock valued at $132,000 after acquiring an additional 293 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in Mednax by 6.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 7,475 shares of the company’s stock valued at $451,000 after acquiring an additional 420 shares during the last quarter. 98.48% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Mednax (NYSE:MD)

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