Redwood Investment Management LLC Raises Position in MEDNAX Inc (NYSE:MD)

Redwood Investment Management LLC lifted its holdings in MEDNAX Inc (NYSE:MD) by 135.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,951 shares of the company’s stock after buying an additional 11,495 shares during the period. Redwood Investment Management LLC’s holdings in MEDNAX were worth $1,110,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. boosted its position in shares of MEDNAX by 13.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 7,735 shares of the company’s stock worth $413,000 after buying an additional 940 shares during the period. Amalgamated Bank boosted its position in MEDNAX by 5.9% during the fourth quarter. Amalgamated Bank now owns 18,448 shares of the company’s stock valued at $986,000 after purchasing an additional 1,035 shares during the last quarter. Macquarie Group Ltd. boosted its position in MEDNAX by 36.1% during the fourth quarter. Macquarie Group Ltd. now owns 4,900 shares of the company’s stock valued at $262,000 after purchasing an additional 1,300 shares during the last quarter. Commerce Bank boosted its position in MEDNAX by 9.6% during the fourth quarter. Commerce Bank now owns 15,868 shares of the company’s stock valued at $848,000 after purchasing an additional 1,393 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in MEDNAX by 12.5% during the fourth quarter. William Blair Investment Management LLC now owns 12,749 shares of the company’s stock valued at $681,000 after purchasing an additional 1,421 shares during the last quarter. 97.39% of the stock is owned by institutional investors and hedge funds.

In other news, insider David A. Clark sold 11,607 shares of MEDNAX stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $45.15, for a total value of $524,056.05. Following the transaction, the insider now directly owns 32,845 shares in the company, valued at $1,482,951.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph M. Calabro sold 22,186 shares of MEDNAX stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $45.20, for a total value of $1,002,807.20. Following the completion of the transaction, the chief operating officer now owns 332,747 shares in the company, valued at $15,040,164.40. The disclosure for this sale can be found here. Insiders sold 75,251 shares of company stock valued at $3,462,384 in the last ninety days. Insiders own 2.70% of the company’s stock.

Shares of NYSE:MD traded down $1.72 on Thursday, reaching $44.86. The company had a trading volume of 1,665,100 shares, compared to its average volume of 849,161. MEDNAX Inc has a twelve month low of $40.56 and a twelve month high of $63.04. The stock has a market capitalization of $4.43 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.19 and a beta of 0.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.74 and a quick ratio of 1.74.

MEDNAX (NYSE:MD) last announced its quarterly 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 company had revenue of $901.90 million during the quarter, compared to analysts’ expectations of $903.75 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. research analysts expect that MEDNAX Inc will post 3.94 EPS for the current fiscal year.

A number of analysts recently issued reports on the company. Citigroup reduced their price objective on MEDNAX from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 4th. Zacks Investment Research cut MEDNAX from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 21st. Credit Suisse Group reduced their price objective on MEDNAX to $57.00 and set a “neutral” rating for the company in a research report on Monday, May 7th. TheStreet raised MEDNAX from a “c+” rating to a “b” rating in a research report on Monday, March 12th. Finally, Jefferies Financial Group set a $58.00 price objective on MEDNAX and gave the company a “hold” rating in a research report on Thursday, March 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.92.

About MEDNAX

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.

Institutional Ownership by Quarter for MEDNAX (NYSE:MD)

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