TheStreet Lowers MEDNAX Inc (MD) to C+

TheStreet downgraded shares of MEDNAX Inc (NYSE:MD) from a b- rating to a c+ rating in a report released on Tuesday.

MD has been the subject of several other reports. Zacks Investment Research cut MEDNAX from a buy rating to a hold rating in a report on Tuesday, February 7th. Bank of America Corp cut MEDNAX from a buy rating to an underperform rating in a report on Thursday, May 4th. Robert W. Baird cut MEDNAX from an outperform rating to a neutral rating and set a $72.00 target price for the company. in a report on Tuesday, March 21st. Jefferies Group LLC restated a hold rating on shares of MEDNAX in a report on Monday, April 10th. Finally, JPMorgan Chase & Co. restated a neutral rating and set a $69.00 target price on shares of MEDNAX in a report on Friday, March 10th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $68.29.

Shares of MEDNAX (NYSE:MD) traded down 0.67% during trading on Tuesday, hitting $55.06. The stock had a trading volume of 363,008 shares. The company has a market capitalization of $5.09 billion, a PE ratio of 16.44 and a beta of 0.67. The firm has a 50-day moving average price of $62.08 and a 200 day moving average price of $66.12. MEDNAX has a 52 week low of $53.80 and a 52 week high of $76.96.

MEDNAX (NYSE:MD) last issued its earnings results on Thursday, May 4th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $835.60 million during the quarter, compared to analysts’ expectations of $837.01 million. MEDNAX had a return on equity of 13.59% and a net margin of 10.21%. MEDNAX’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS. Equities analysts anticipate that MEDNAX will post $3.61 earnings per share for the current year.

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In other news, Director Enrique Sosa sold 10,668 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $69.65, for a total value of $743,026.20. Following the completion of the transaction, the director now owns 21,923 shares of the company’s stock, valued at approximately $1,526,936.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Manuel Kadre bought 21,704 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was purchased at an average cost of $55.79 per share, with a total value of $1,210,866.16. Following the transaction, the director now directly owns 111,255 shares in the company, valued at approximately $6,206,916.45. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of MEDNAX by 5.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $106,000 after buying an additional 77 shares in the last quarter. Ledyard National Bank increased its stake in MEDNAX by 19.0% in the first quarter. Ledyard National Bank now owns 1,725 shares of the company’s stock valued at $120,000 after buying an additional 275 shares during the last quarter. Pacer Advisors Inc. increased its stake in MEDNAX by 3.2% in the first quarter. Pacer Advisors Inc. now owns 1,795 shares of the company’s stock valued at $125,000 after buying an additional 55 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in MEDNAX by 870.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,000 shares of the company’s stock valued at $139,000 after buying an additional 1,794 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC increased its stake in MEDNAX by 3.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,270 shares of the company’s stock valued at $157,000 after buying an additional 78 shares during the last quarter. 99.16% of the stock is owned by hedge funds and other institutional investors.

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.

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