Zacks Investment Research Downgrades MEDNAX (MD) to Hold

MEDNAX (NYSE:MD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, March 21st.

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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Other research analysts have also issued research reports about the stock. JPMorgan Chase raised their target price on shares of MEDNAX from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. BMO Capital Markets raised their target price on shares of MEDNAX from $46.00 to $58.00 and gave the company a “market perform” rating in a research note on Monday, February 12th. Mizuho reaffirmed a “neutral” rating and issued a $53.00 target price (up previously from $49.00) on shares of MEDNAX in a research note on Friday, February 9th. Jefferies Group set a $50.00 target price on shares of MEDNAX and gave the company a “hold” rating in a research note on Tuesday, February 6th. Finally, TheStreet raised shares of MEDNAX from a “c+” rating to a “b” rating in a research note on Monday, March 12th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $55.69.

MD traded up $0.31 during midday trading on Wednesday, hitting $53.55. The company had a trading volume of 1,183,692 shares, compared to its average volume of 879,024. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $5,026.50, a PE ratio of 17.03, a PEG ratio of 1.33 and a beta of 0.23. MEDNAX has a twelve month low of $40.56 and a twelve month high of $68.29.

MEDNAX (NYSE:MD) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The firm had revenue of $910.82 million during the quarter, compared to analysts’ expectations of $884.55 million. MEDNAX had a net margin of 9.26% and a return on equity of 10.10%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. research analysts predict that MEDNAX will post 4.02 EPS for the current year.

In related news, insider John C. Pepia sold 3,000 shares of MEDNAX stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $58.35, for a total transaction of $175,050.00. Following the transaction, the insider now owns 39,716 shares of the company’s stock, valued at approximately $2,317,428.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. raised its holdings 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 valued at $413,000 after purchasing an additional 940 shares during the last quarter. Amalgamated Bank raised its holdings in shares of MEDNAX by 5.9% in 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. American International Group Inc. raised its holdings in shares of MEDNAX by 0.6% in the third quarter. American International Group Inc. now owns 195,583 shares of the company’s stock valued at $8,434,000 after purchasing an additional 1,263 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of MEDNAX by 36.1% in 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. Finally, Commerce Bank raised its holdings in shares of MEDNAX by 9.6% in 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. Hedge funds and other institutional investors own 98.53% of the company’s stock.

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MEDNAX Company Profile

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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