Advisors Asset Management Inc. lowered its holdings in Mednax, Inc (NYSE:MD) by 80.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,994 shares of the company’s stock after selling 24,877 shares during the period. Advisors Asset Management Inc.’s holdings in Mednax were worth $258,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its stake in Mednax by 8.1% during the second quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock valued at $117,000 after buying an additional 145 shares in the last quarter. Commonwealth Bank of Australia raised its stake in Mednax by 15.3% during the second quarter. Commonwealth Bank of Australia now owns 2,205 shares of the company’s stock valued at $132,000 after buying an additional 293 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Mednax by 20.0% during the second quarter. Daiwa Securities Group Inc. now owns 3,000 shares of the company’s stock valued at $181,000 after buying an additional 500 shares in the last quarter. Denali Advisors LLC acquired a new stake in Mednax during the third quarter valued at approximately $185,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Mednax during the second quarter valued at approximately $217,000. 98.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Mednax, Inc (NYSE MD) traded up $0.19 during mid-day trading on Friday, reaching $50.88. The company had a trading volume of 801,500 shares, compared to its average volume of 1,095,293. Mednax, Inc has a 1-year low of $40.56 and a 1-year high of $72.13. The company has a market cap of $4,747.38, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 1.37.
Mednax (NYSE:MD) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Mednax had a return on equity of 10.80% and a net margin of 7.76%. The business had revenue of $868.95 million during the quarter, compared to analyst estimates of $864.78 million. During the same period in the prior year, the company posted $1.09 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts forecast that Mednax, Inc will post 3.1 EPS for the current fiscal year.
Several analysts have issued reports on the company. Citigroup cut their price objective on Mednax from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Jefferies Group reiterated a “hold” rating and set a $44.00 price target on shares of Mednax in a research report on Friday, November 3rd. Robert W. Baird increased their price target on Mednax from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. KeyCorp upgraded Mednax from a “sector weight” rating to an “overweight” rating and set a $51.00 price target on the stock in a research report on Sunday, September 17th. Finally, Zacks Investment Research upgraded Mednax from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $54.50.
In other Mednax news, Director Cesar L. Alvarez sold 10,668 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $42.59, for a total transaction of $454,350.12. Following the completion of the transaction, the director now directly owns 44,215 shares of the company’s stock, valued at approximately $1,883,116.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John C. Pepia sold 3,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $42.85, for a total value of $128,550.00. Following the transaction, the insider now directly owns 35,569 shares of the company’s stock, valued at $1,524,131.65. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
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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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