Hermes Investment Management Ltd. lowered its position in Mednax, Inc (NYSE:MD) by 22.2% during the second quarter, Holdings Channel reports. The firm owned 628,319 shares of the company’s stock after selling 178,777 shares during the period. Hermes Investment Management Ltd.’s holdings in Mednax were worth $37,932,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in Mednax by 5.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,604 shares of the company’s stock valued at $106,000 after buying an additional 77 shares during the last quarter. Ledyard National Bank boosted its stake in Mednax by 19.0% in the first quarter. Ledyard National Bank now owns 1,725 shares of the company’s stock valued at $120,000 after buying an additional 275 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Mednax by 3.2% in the first quarter. Pacer Advisors Inc. now owns 1,795 shares of the company’s stock valued at $125,000 after buying an additional 55 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Mednax by 870.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,000 shares of the company’s stock valued at $139,000 after buying an additional 1,794 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC boosted its stake in Mednax by 3.6% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,270 shares of the company’s stock valued at $157,000 after buying an additional 78 shares during the last quarter.
Shares of Mednax, Inc (NYSE:MD) traded down 0.03% during trading on Monday, hitting $58.09. 123,852 shares of the stock were exchanged. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 17.34 and a beta of 0.44. The firm has a 50 day moving average of $57.74 and a 200-day moving average of $63.76. Mednax, Inc has a 12-month low of $53.80 and a 12-month high of $76.04.
Mednax (NYSE:MD) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Mednax had a return on equity of 12.81% and a net margin of 9.54%. The business had revenue of $835.60 million for the quarter, compared to analyst estimates of $837.01 million. During the same period in the prior year, the company posted $0.87 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, analysts forecast that Mednax, Inc will post $3.58 earnings per share for the current year.
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Several research analysts have weighed in on MD shares. Zacks Investment Research raised shares of Mednax from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Bank of America Corporation lowered shares of Mednax from a “buy” rating to an “underperform” rating in a research note on Thursday, May 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $53.00 target price (up previously from $50.00) on shares of Mednax in a research note on Thursday, July 6th. BidaskClub raised shares of Mednax from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, ValuEngine cut shares of Mednax from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $65.89.
In related news, Director Manuel Kadre bought 21,704 shares of the company’s stock in a transaction on Friday, May 5th. The shares were purchased at an average cost of $55.79 per share, with a total value of $1,210,866.16. Following the completion of the transaction, the director now directly owns 111,255 shares of the company’s stock, valued at $6,206,916.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vivian Lopez-Blanco sold 7,778 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $55.82, for a total value of $434,167.96. Following the completion of the sale, the chief financial officer now directly owns 51,319 shares in the company, valued at $2,864,626.58. The disclosure for this sale can be found here. Insiders sold 33,074 shares of company stock worth $1,830,508 over the last ninety days. 2.40% of the stock is owned by corporate 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. 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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