JPMorgan Chase & Co. Increases MEDNAX (MD) Price Target to $55.00

MEDNAX (NYSE:MD) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $46.00 to $55.00 in a research note issued to investors on Monday. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 1.51% from the company’s current price.

A number of other analysts have also commented on MD. BMO Capital Markets initiated coverage on shares of MEDNAX in a research note on Monday, October 16th. They issued a “market perform” rating and a $46.00 price target for the company. KeyCorp set a $51.00 price target on shares of MEDNAX and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Jefferies Group reiterated a “hold” rating and issued a $44.00 price target on shares of MEDNAX in a research note on Friday, November 3rd. Robert W. Baird lifted their price target on shares of MEDNAX from $47.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Citigroup reduced their price target on shares of MEDNAX from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.92.

Shares of MEDNAX (NYSE:MD) traded up $0.24 during mid-day trading on Monday, hitting $54.18. 40,883 shares of the stock were exchanged, compared to its average volume of 907,051. MEDNAX has a 52-week low of $40.56 and a 52-week high of $72.13. The company has a market capitalization of $5,051.76, a price-to-earnings ratio of 15.63, a PEG ratio of 1.47 and a beta of 0.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.43 and a quick ratio of 1.37.

MEDNAX (NYSE:MD) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.04. MEDNAX had a net margin of 9.26% and a return on equity of 10.10%. The firm had revenue of $910.82 million during the quarter, compared to analyst estimates of $884.55 million. During the same period in the previous year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. sell-side analysts forecast that MEDNAX will post 3.67 EPS for the current year.

In related news, insider John C. Pepia sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $51.58, for a total value of $154,740.00. Following the transaction, the insider now owns 35,569 shares of the company’s stock, valued at $1,834,649.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. purchased a new position in MEDNAX during the third quarter valued at approximately $103,000. QS Investors LLC lifted its holdings in MEDNAX by 0.3% during the second quarter. QS Investors LLC now owns 3,812 shares of the company’s stock valued at $230,000 after purchasing an additional 12 shares in the last quarter. Delta Capital Management LLC purchased a new position in MEDNAX during the fourth quarter valued at approximately $227,000. Denali Advisors LLC purchased a new position in MEDNAX during the third quarter valued at approximately $185,000. Finally, YHB Investment Advisors Inc. purchased a new position in MEDNAX during the fourth quarter valued at approximately $235,000. 95.22% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for MEDNAX (NYSE:MD)

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