Mednax Inc. (MD) Stake Lowered by Commerce Bank
Commerce Bank lowered its position in Mednax Inc. (NYSE:MD) by 8.0% during the third quarter, Holdings Channel reports. The firm owned 21,604 shares of the company’s stock after selling 1,867 shares during the period. Commerce Bank’s holdings in Mednax were worth $1,431,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of MD. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Mednax during the second quarter valued at about $101,000. Parkside Financial Bank & Trust increased its stake in shares of Mednax by 30.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,406 shares of the company’s stock valued at $102,000 after buying an additional 325 shares during the period. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Mednax during the second quarter valued at about $107,000. Pacer Advisors Inc. increased its stake in shares of Mednax by 9.5% in the second quarter. Pacer Advisors Inc. now owns 1,760 shares of the company’s stock valued at $127,000 after buying an additional 152 shares during the period. Finally, First Quadrant L P CA acquired a new stake in shares of Mednax during the second quarter valued at about $130,000. Institutional investors and hedge funds own 98.45% of the company’s stock.
Shares of Mednax Inc. (NYSE:MD) traded up 1.04% during trading on Tuesday, reaching $66.01. 479,673 shares of the company traded hands. The firm has a market capitalization of $6.11 billion, a PE ratio of 18.13 and a beta of 0.62. The firm has a 50-day moving average price of $63.96 and a 200-day moving average price of $67.35. Mednax Inc. has a 12 month low of $59.36 and a 12 month high of $76.96.
Mednax (NYSE:MD) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.02. The business earned $828 million during the quarter, compared to analyst estimates of $821.18 million. Mednax had a return on equity of 14.47% and a net margin of 10.97%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. Equities research analysts anticipate that Mednax Inc. will post $4.04 EPS for the current year.
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Several analysts have issued reports on the stock. Citigroup Inc. reduced their price target on shares of Mednax from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Mizuho downgraded shares of Mednax from a “buy” rating to a “neutral” rating and reduced their price target for the company from $69.00 to $64.00 in a report on Wednesday, November 9th. Zacks Investment Research downgraded shares of Mednax from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Raymond James Financial Inc. downgraded shares of Mednax from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 27th. Finally, Jefferies Group reduced their price objective on shares of Mednax from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 26th. Six investment analysts have rated the stock with a hold rating and five 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 $74.44.
In other news, Director Md Pascal J. Goldschmidt sold 1,500 shares of Mednax stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $65.01, for a total value of $97,515.00. Following the transaction, the director now owns 12,755 shares of the company’s stock, valued at approximately $829,202.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.
Mednax Company Profile
MEDNAX, Inc is a provider of physician services, including newborn, anesthesia, maternal-fetal, teleradiology, pediatric cardiology and other pediatric subspecialty care. The Company’s national network consists of approximately 3,240 affiliated physicians, including approximately 1,100 physicians who provide neonatal clinical care, in over 30 states and Puerto Rico, within hospital-based neonatal intensive care units (NICUs), to babies born prematurely or with medical complications.
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