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. “
Several other research analysts have also issued reports on MD. Citigroup Inc. decreased their target price on Mednax from $76.00 to $72.00 and set a neutral rating for the company in a research report on Wednesday, August 17th. 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 research report on Friday, July 29th. Jefferies Group reissued a buy rating and issued a $80.00 target price on shares of Mednax in a research report on Wednesday, June 8th. Finally, Mizuho reissued a buy rating and issued a $79.00 target price on shares of Mednax in a research report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Mednax has an average rating of Buy and an average price target of $76.11.
Mednax (NYSE:MD) opened at 65.89 on Wednesday. Mednax has a 12-month low of $61.40 and a 12-month high of $83.20. The stock has a market capitalization of $6.07 billion, a PE ratio of 18.39 and a beta of 0.54. The company’s 50-day moving average is $65.43 and its 200 day moving average is $68.29.
Mednax (NYSE:MD) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $772 million for the quarter, compared to the consensus estimate of $775.68 million. Mednax had a net margin of 11.17% and a return on equity of 14.88%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. On average, equities research analysts expect that Mednax will post $4.14 earnings per share for the current fiscal year.
In other Mednax news, Director Md Pascal J. Goldschmidt sold 1,500 shares of the stock in a transaction 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 sale, the director now directly owns 12,755 shares in the company, valued at approximately $829,202.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Mednax during the fourth quarter valued at approximately $59,563,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Mednax by 11.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,741 shares of the company’s stock valued at $1,857,000 after buying an additional 3,010 shares in the last quarter. Aperio Group LLC increased its stake in shares of 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. IFP Advisors Inc increased its stake in shares of Mednax by 1,167.4% in the first quarter. IFP Advisors Inc now owns 9,163 shares of the company’s stock valued at $592,000 after buying an additional 8,440 shares in the last quarter. Finally, Pacad Investment Ltd. increased its position in 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 period. Institutional investors and hedge funds own 97.75% 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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