MEDNAX Inc (NYSE:MD) was the target of a large decrease in short interest in the month of April. As of April 28th, there was short interest totalling 7,120,627 shares, a decrease of 24.9% from the April 13th total of 9,480,171 shares. Currently, 7.8% of the company’s shares are short sold. Based on an average daily volume of 1,584,427 shares, the days-to-cover ratio is presently 4.5 days.
Several brokerages have commented on MD. Zacks Investment Research upgraded MEDNAX from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Jefferies Group LLC restated a “hold” rating and issued a $58.00 target price on shares of MEDNAX in a research report on Wednesday, April 26th. Stifel Nicolaus dropped their target price on MEDNAX from $65.00 to $58.00 and set a “hold” rating for the company in a research report on Thursday, May 25th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $69.00 price target on shares of MEDNAX in a research note on Friday, March 10th. Finally, Mizuho decreased their price target on MEDNAX from $64.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $66.25.
Shares of MEDNAX (NYSE MD) traded up 1.67% during midday trading on Tuesday, reaching $57.82. The company had a trading volume of 318,175 shares. MEDNAX has a 1-year low of $53.80 and a 1-year high of $76.96. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 17.26 and a beta of 0.52. The firm’s 50 day moving average price is $55.83 and its 200-day moving average price is $64.97.
MEDNAX (NYSE:MD) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. MEDNAX had a return on equity of 7.94% and a net margin of 6.55%. The company had revenue of $835.60 million for the quarter, compared to analysts’ expectations of $837.01 million. During the same period in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that MEDNAX will post $3.61 EPS for the current fiscal year.
In other news, insider Joseph M. Calabro sold 23,327 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $55.00, for a total transaction of $1,282,985.00. Following the completion of the sale, the insider now directly owns 296,379 shares of the company’s stock, valued at approximately $16,300,845. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Md Pascal J. Goldschmidt sold 1,969 shares of MEDNAX stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $57.57, for a total value of $113,355.33. Following the completion of the sale, the director now directly owns 18,072 shares of the company’s stock, valued at approximately $1,040,405.04. The disclosure for this sale can be found here. Insiders have sold a total of 33,074 shares of company stock valued at $1,830,508 in the last three months. Insiders own 2.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in MEDNAX by 5,766.0% in the first quarter. BlackRock Inc. now owns 8,229,340 shares of the company’s stock worth $570,952,000 after buying an additional 8,089,052 shares in the last quarter. Schroder Investment Management Group raised its stake in MEDNAX by 144.1% in the first quarter. Schroder Investment Management Group now owns 1,734,697 shares of the company’s stock worth $120,458,000 after buying an additional 1,024,048 shares in the last quarter. Longview Partners Guernsey LTD raised its stake in MEDNAX by 27.4% in the first quarter. Longview Partners Guernsey LTD now owns 4,555,631 shares of the company’s stock worth $316,070,000 after buying an additional 980,081 shares in the last quarter. Norges Bank bought a new stake in MEDNAX during the fourth quarter worth $56,794,000. Finally, Flinton Capital Management LLC bought a new stake in MEDNAX during the fourth quarter worth $56,031,000.
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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