MEDNAX (MD) Hits New 12-Month Low After Earnings Miss

Shares of MEDNAX Inc (NYSE:MD) reached a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $37.26 and last traded at $38.05, with a volume of 1125951 shares. The stock had previously closed at $41.29.

The company reported $0.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.03). The firm had revenue of $896.60 million during the quarter, compared to analyst estimates of $908.15 million. MEDNAX had a net margin of 9.59% and a return on equity of 10.42%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS.

MD has been the subject of a number of analyst reports. Leerink Swann initiated coverage on MEDNAX in a research note on Thursday, July 12th. They issued a “market perform” rating and a $50.00 price target for the company. Zacks Investment Research downgraded MEDNAX from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. Stifel Nicolaus set a $47.00 price target on MEDNAX and gave the company a “hold” rating in a research note on Thursday, August 2nd. Credit Suisse Group upgraded MEDNAX from a “neutral” rating to an “outperform” rating and raised their price target for the company from $47.00 to $55.00 in a research note on Friday, August 3rd. Finally, ValuEngine upgraded MEDNAX from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.57.

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 stock was sold at an average price of $48.18, for a total value of $168,630.00. Following the completion of the transaction, the insider now directly owns 30,148 shares in the company, 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 owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of MEDNAX by 55.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 363,201 shares of the company’s stock worth $15,719,000 after acquiring an additional 130,001 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of MEDNAX during the 2nd quarter worth approximately $172,000. Mutual of America Capital Management LLC boosted its stake in shares of MEDNAX by 5.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 81,252 shares of the company’s stock worth $3,517,000 after acquiring an additional 4,101 shares during the period. Bank of Montreal Can boosted its stake in shares of MEDNAX by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 210,277 shares of the company’s stock worth $9,102,000 after acquiring an additional 13,360 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of MEDNAX by 1,252.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 37,216 shares of the company’s stock worth $1,611,000 after acquiring an additional 34,465 shares during the period. Institutional investors own 95.92% of the company’s stock.

The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3.87 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.14 and a beta of 0.23.

MEDNAX Company Profile (NYSE:MD)

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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