Essex Investment Management Co. LLC cut its stake in Mednax Inc. (NYSE:MD) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,626 shares of the company’s stock after selling 87 shares during the period. Essex Investment Management Co. LLC’s holdings in Mednax were worth $480,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of MD. Aperio Group LLC boosted its stake in Mednax by 19.8% in the first quarter. Aperio Group LLC now owns 18,972 shares of the company’s stock valued at $1,226,000 after buying an additional 3,136 shares in the last quarter. Pacad Investment Ltd. raised its position in shares of Mednax by 89.4% in the first quarter. Pacad Investment Ltd. now owns 12,100 shares of the company’s stock worth $782,000 after buying an additional 5,710 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Mednax by 6.6% in the first quarter. Teachers Advisors Inc. now owns 290,422 shares of the company’s stock worth $18,767,000 after buying an additional 17,963 shares during the last quarter. BlackRock Inc. raised its position in shares of Mednax by 14.0% in the first quarter. BlackRock Inc. now owns 111,925 shares of the company’s stock worth $7,232,000 after buying an additional 13,776 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Mednax by 3.2% in the first quarter. BlackRock Group LTD now owns 349,570 shares of the company’s stock worth $22,589,000 after buying an additional 10,776 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.
Shares of Mednax Inc. (NYSE:MD) traded down 0.03% during midday trading on Thursday, reaching $66.90. 570,692 shares of the company’s stock traded hands. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 18.67 and a beta of 0.54. Mednax Inc. has a one year low of $61.40 and a one year high of $83.20. The company has a 50-day moving average of $65.52 and a 200-day moving average of $68.29.
Mednax (NYSE:MD) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $772 million for the quarter, compared to analyst estimates of $775.68 million. Mednax had a return on equity of 14.88% and a net margin of 11.17%. Mednax’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. Equities research analysts anticipate that Mednax Inc. will post $4.14 EPS for the current year.
A number of equities analysts have recently commented on the stock. Citigroup Inc. decreased their price target on shares of Mednax from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Zacks Investment Research raised shares of Mednax from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, June 29th. JPMorgan Chase & Co. decreased their price target on shares of Mednax from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, July 29th. Jefferies Group decreased their price target on shares of Mednax from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 26th. Finally, Mizuho reissued a “buy” rating and issued a $79.00 price target on shares of Mednax in a report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $76.11.
In other news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $65.01, for a total transaction of $97,515.00. Following the transaction, the director now owns 12,755 shares in the company, valued at approximately $829,202.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.
MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. The Company’s national network consists of approximately 3,240 affiliated physicians, including approximately 1,100 physicians who provide neonatal clinical care, in over 30 states and Puerto Rico, within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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