Rhumbline Advisers trimmed its stake in shares of MEDNAX Inc (NYSE:MD) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 213,276 shares of the company’s stock after selling 5,759 shares during the quarter. Rhumbline Advisers owned about 0.25% of MEDNAX worth $4,824,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of MEDNAX during the 2nd quarter worth approximately $36,000. US Bancorp DE raised its position in shares of MEDNAX by 38.5% during the 2nd quarter. US Bancorp DE now owns 5,657 shares of the company’s stock worth $142,000 after purchasing an additional 1,572 shares during the period. ETF Managers Group LLC raised its position in shares of MEDNAX by 166.0% during the 2nd quarter. ETF Managers Group LLC now owns 6,845 shares of the company’s stock worth $168,000 after purchasing an additional 4,272 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of MEDNAX during the 3rd quarter worth approximately $161,000. Finally, Machina Capital S.A.S. acquired a new stake in shares of MEDNAX during the 2nd quarter worth approximately $180,000. Institutional investors and hedge funds own 92.54% of the company’s stock.
In other news, Director Md Pascal J. Goldschmidt sold 5,000 shares of MEDNAX stock in a transaction on Friday, November 1st. The stock was sold at an average price of $22.88, for a total transaction of $114,400.00. Following the transaction, the director now directly owns 10,821 shares in the company, valued at approximately $247,584.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Fernandez purchased 122,409 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $21.35 per share, for a total transaction of $2,613,432.15. Following the completion of the transaction, the director now owns 350,288 shares in the company, valued at approximately $7,478,648.80. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company insiders.
A number of analysts have recently weighed in on MD shares. Credit Suisse Group dropped their price target on MEDNAX from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Mizuho set a $25.00 price target on MEDNAX and gave the stock a “hold” rating in a research report on Friday, November 1st. ValuEngine upgraded MEDNAX from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Bank of America cut MEDNAX from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research report on Friday, September 6th. Finally, UBS Group lowered their target price on MEDNAX from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $26.56.
MD opened at $25.95 on Friday. MEDNAX Inc has a 12 month low of $19.93 and a 12 month high of $41.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.93 and a quick ratio of 2.23. The stock has a market cap of $2.20 billion, a P/E ratio of 7.39, a P/E/G ratio of 1.01 and a beta of 0.70. The stock’s 50 day moving average price is $22.89 and its 200 day moving average price is $24.17.
MEDNAX (NYSE:MD) last posted its earnings results on Friday, November 1st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. MEDNAX had a positive return on equity of 10.38% and a negative net margin of 40.86%. The firm had revenue of $888.70 million for the quarter, compared to analysts’ expectations of $876.20 million. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that MEDNAX Inc will post 3.02 EPS for the current year.
MEDNAX, Inc, together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology and teleradiology, pediatric cardiology, and other pediatric subspecialty physician services in the United States and Puerto Rico. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians; anesthesia and anesthesia subspecialty care services; and acute and chronic pain management services.
Further Reading: Hold Rating
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