Palisade Capital Management LLC NJ lessened its holdings in MEDNAX Inc (NYSE:MD) by 27.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 382,649 shares of the company’s stock after selling 147,696 shares during the period. Palisade Capital Management LLC NJ owned about 0.40% of MEDNAX worth $21,287,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Sandy Spring Bank purchased a new stake in shares of MEDNAX during the first quarter worth $176,000. Delta Capital Management LLC purchased a new stake in shares of MEDNAX during the fourth quarter worth $227,000. Brown Advisory Inc. purchased a new stake in shares of MEDNAX during the fourth quarter worth $231,000. Shelton Capital Management purchased a new stake in shares of MEDNAX during the fourth quarter worth $245,000. Finally, Macquarie Group Ltd. raised its holdings in shares of MEDNAX by 36.1% during the fourth quarter. Macquarie Group Ltd. now owns 4,900 shares of the company’s stock worth $262,000 after acquiring an additional 1,300 shares in the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.
In related news, insider John C. Pepia sold 3,000 shares of MEDNAX stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $58.35, for a total transaction of $175,050.00. Following the sale, the insider now directly owns 39,716 shares of the company’s stock, valued at $2,317,428.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.70% of the stock is owned by company insiders.
Several brokerages recently issued reports on MD. Credit Suisse Group cut their price objective on MEDNAX to $57.00 and set a “neutral” rating for the company in a report on Monday, May 7th. Zacks Investment Research upgraded MEDNAX from a “sell” rating to a “hold” rating in a report on Saturday, May 5th. Citigroup cut their price objective on MEDNAX from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 4th. ValuEngine lowered MEDNAX from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, TheStreet lowered MEDNAX from a “b” rating to a “c” rating in a report on Monday, April 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.92.
Shares of NYSE:MD opened at $47.02 on Monday. The stock has a market capitalization of $4.44 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.19 and a beta of 0.26. MEDNAX Inc has a 52-week low of $40.56 and a 52-week high of $63.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.74 and a current ratio of 1.74.
MEDNAX (NYSE:MD) last released its earnings results on Monday, April 30th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. MEDNAX had a return on equity of 10.13% and a net margin of 9.34%. The business had revenue of $901.90 million for the quarter, compared to the consensus estimate of $903.75 million. During the same period last year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. sell-side analysts predict that MEDNAX Inc will post 3.95 earnings per share for the current year.
MEDNAX, Inc, together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology, pediatric cardiology, and other pediatric subspecialties physician services in the United States and Puerto Rico. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians; anesthesia and anesthesia subspecialty care; and acute and chronic pain management services.
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