MEDNAX (NYSE:MD) issued its quarterly earnings results on Thursday. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.03), MarketWatch Earnings reports. MEDNAX had a return on equity of 10.42% and a net margin of 9.59%. The firm had revenue of $896.60 million during the quarter, compared to analysts’ expectations of $908.15 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. MEDNAX updated its Q4 2018 guidance to $0.87-0.95 EPS and its Q4 guidance to $0.87-0.95 EPS.
MD stock traded down $2.66 during midday trading on Thursday, reaching $38.63. 2,564,379 shares of the company were exchanged, compared to its average volume of 828,844. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.59. MEDNAX has a 1-year low of $37.26 and a 1-year high of $63.04. The stock has a market cap of $3.87 billion, a P/E ratio of 12.26, a PEG ratio of 1.14 and a beta of 0.23.
A number of brokerages recently issued reports on MD. ValuEngine downgraded shares of MEDNAX from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of MEDNAX from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. Leerink Swann began coverage on shares of MEDNAX in a research note on Thursday, July 12th. They issued a “market perform” rating and a $50.00 price target for the company. Stifel Nicolaus set a $47.00 price target on shares of MEDNAX and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Finally, Robert W. Baird decreased their price target on shares of MEDNAX from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, October 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $54.00.
In other MEDNAX news, insider John C. Pepia sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $48.18, for a total transaction of $168,630.00. Following the sale, the insider now owns 30,148 shares of the company’s stock, valued at $1,452,530.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Orbimed Advisors LLC increased its holdings in shares of MEDNAX by 133.1% in the 2nd quarter. Orbimed Advisors LLC now owns 862,600 shares of the company’s stock valued at $37,333,000 after acquiring an additional 492,600 shares during the period. Cooke & Bieler LP increased its holdings in shares of MEDNAX by 150.5% in the 2nd quarter. Cooke & Bieler LP now owns 670,185 shares of the company’s stock valued at $29,006,000 after acquiring an additional 402,690 shares during the period. BlackRock Inc. increased its holdings in shares of MEDNAX by 3.1% in the 2nd quarter. BlackRock Inc. now owns 8,125,250 shares of the company’s stock valued at $351,662,000 after acquiring an additional 245,301 shares during the period. Bank of Montreal Can increased its holdings in shares of MEDNAX by 112.3% in the 3rd quarter. Bank of Montreal Can now owns 446,487 shares of the company’s stock valued at $20,834,000 after acquiring an additional 236,210 shares during the period. Finally, Ardevora Asset Management LLP acquired a new position in shares of MEDNAX in the 3rd quarter valued at $9,892,000. 95.92% of the stock is currently owned by institutional investors.
MEDNAX Company Profile
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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