MEDNAX (MD) Upgraded to “Buy” at Zacks Investment Research

MEDNAX (NYSE:MD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $60.00 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 10.86% from the company’s previous close.

According to Zacks, “Mednax, Inc., formerly Pediatrix Medical Group, Inc. is a healthcare services company that focuses on physician services for newborn, maternal-fetal, pediatric subspecialty and anesthesia care. The company ,through its subsidiaries, provides these services in the United States and Puerto Rico. In addition, MEDNAX engages in clinical research, monitoring clinical outcomes, and implementing clinical initiatives. “

A number of other equities analysts have also commented on MD. Jefferies Group reissued a “hold” rating and issued a $46.00 price objective on shares of MEDNAX in a research note on Tuesday, October 3rd. BMO Capital Markets initiated coverage on MEDNAX in a research note on Monday, October 16th. They issued a “market perform” rating and a $46.00 price objective on the stock. KeyCorp set a $51.00 price objective on MEDNAX and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Robert W. Baird upped their price target on MEDNAX from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, Citigroup cut their price target on MEDNAX from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. MEDNAX has a consensus rating of “Hold” and a consensus price target of $54.33.

MEDNAX (MD) opened at $54.12 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $5,012.43, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.57 and a beta of 0.39. MEDNAX has a one year low of $40.56 and a one year high of $72.13.

MEDNAX (NYSE:MD) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $868.95 million for the quarter, compared to analyst estimates of $864.78 million. MEDNAX had a return on equity of 10.80% and a net margin of 7.76%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. sell-side analysts expect that MEDNAX will post 3.1 EPS for the current 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 owns 44,215 shares in the company, 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 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 owns 35,569 shares of the company’s stock, valued at approximately $1,834,649.02. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Oakbrook Investments LLC bought a new stake in shares of MEDNAX in the fourth quarter worth about $379,000. Schwab Charles Investment Management Inc. increased its holdings in shares of MEDNAX by 9.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 349,431 shares of the company’s stock worth $18,674,000 after acquiring an additional 29,198 shares in the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of MEDNAX in the fourth quarter worth about $254,000. Bank of Montreal Can increased its holdings in shares of MEDNAX by 212.4% in the fourth quarter. Bank of Montreal Can now owns 233,920 shares of the company’s stock worth $12,500,000 after acquiring an additional 159,036 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in shares of MEDNAX in the fourth quarter worth about $235,000. Institutional investors own 98.65% of the company’s stock.

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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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