Zacks Investment Research Lowers MEDNAX (MD) to Sell

Zacks Investment Research downgraded shares of MEDNAX (NYSE:MD) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

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MD has been the topic of several other reports. ValuEngine downgraded MEDNAX from a hold rating to a sell rating in a report on Monday, April 2nd. SunTrust Banks set a $55.00 target price on MEDNAX and gave the stock a hold rating in a report on Thursday, December 21st. Piper Jaffray initiated coverage on MEDNAX in a report on Wednesday, December 13th. They issued an overweight rating and a $58.00 target price on the stock. Robert W. Baird boosted their target price on MEDNAX from $48.00 to $54.00 and gave the stock a neutral rating in a report on Friday, February 9th. Finally, Jefferies Group set a $58.00 target price on MEDNAX and gave the stock a hold rating in a report on Thursday, March 15th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $55.69.

Shares of MD opened at $52.59 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.18 and a quick ratio of 1.18. MEDNAX has a 1-year low of $40.56 and a 1-year high of $68.14. The company has a market cap of $5,022.75, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.33 and a beta of 0.23.

MEDNAX (NYSE:MD) last released its earnings results on Thursday, February 8th. The company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.04. MEDNAX had a return on equity of 10.10% and a net margin of 9.26%. The business had revenue of $910.82 million for the quarter, compared to the consensus estimate of $884.55 million. During the same period in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. sell-side analysts expect that MEDNAX will post 4.02 earnings per share for the current fiscal year.

In other news, insider John C. Pepia sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $58.35, for a total value of $175,050.00. Following the completion of the transaction, the insider now owns 39,716 shares in the company, valued at $2,317,428.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Earnest Partners LLC increased its position in MEDNAX by 48.1% during the fourth quarter. Earnest Partners LLC now owns 2,212,691 shares of the company’s stock valued at $118,246,000 after acquiring an additional 718,317 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in MEDNAX by 6.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,515,288 shares of the company’s stock valued at $80,977,000 after acquiring an additional 96,005 shares during the last quarter. Dimensional Fund Advisors LP increased its position in MEDNAX by 25.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,424,574 shares of the company’s stock valued at $61,428,000 after acquiring an additional 293,011 shares during the last quarter. HealthCor Management L.P. purchased a new stake in MEDNAX during the fourth quarter valued at $67,421,000. Finally, Pzena Investment Management LLC purchased a new stake in MEDNAX during the fourth quarter valued at $51,411,000. Institutional investors own 98.53% of the company’s stock.

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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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