Bbva Compass Bancshares Inc. cut its stake in shares of Mednax Inc. (NYSE:MD) by 34.9% during the second quarter, Holdings Channel reports. The firm owned 22,628 shares of the company’s stock after selling 12,124 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Mednax were worth $1,639,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MD. Nordea Investment Management AB boosted its stake in Mednax by 317.0% in the second quarter. Nordea Investment Management AB now owns 2,817,940 shares of the company’s stock valued at $204,103,000 after buying an additional 2,142,237 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of Mednax during the second quarter worth about $109,915,000. Bank of Montreal Can purchased a new stake in shares of Mednax during the second quarter worth about $34,026,000. Renaissance Technologies LLC purchased a new stake in shares of Mednax during the first quarter worth about $28,536,000. Finally, State Street Corp boosted its stake in shares of Mednax by 3.8% in the first quarter. State Street Corp now owns 3,169,899 shares of the company’s stock worth $204,837,000 after buying an additional 116,369 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.
Shares of Mednax Inc. (NYSE:MD) traded down 0.02% during trading on Monday, hitting $65.50. The company’s stock had a trading volume of 154,177 shares. The company has a market capitalization of $6.04 billion, a P/E ratio of 18.28 and a beta of 0.54. The firm’s 50 day moving average is $65.79 and its 200-day moving average is $68.33. Mednax Inc. has a 1-year low of $61.40 and a 1-year high of $83.20.
Mednax (NYSE:MD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.07 by $0.04. Mednax had a return on equity of 14.88% and a net margin of 11.17%. The firm had revenue of $772 million for the quarter, compared to analysts’ expectations of $775.68 million. During the same period last year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts forecast that Mednax Inc. will post $4.14 EPS for the current fiscal year.
MD has been the subject of a number of research reports. Zacks Investment Research upgraded Mednax from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Wednesday, June 29th. JPMorgan Chase & Co. decreased their target price on Mednax from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, July 29th. Citigroup Inc. decreased their target price on Mednax from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, August 17th. Jefferies Group decreased their target price on Mednax from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 26th. Finally, Mizuho reiterated a “buy” rating and set a $79.00 target price on shares of Mednax in a report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company 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 firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $65.01, for a total transaction of $97,515.00. Following the completion of the sale, the director now directly owns 12,755 shares of the company’s stock, valued at approximately $829,202.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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