Hermes Investment Management Ltd. reduced its stake in shares of Mednax, Inc (NYSE:MD) by 22.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 628,319 shares of the company’s stock after selling 178,777 shares during the period. Hermes Investment Management Ltd. owned approximately 0.68% of Mednax worth $37,932,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its position 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 during the last quarter. Vanguard Group Inc. boosted its position in Mednax by 4.7% in the first quarter. Vanguard Group Inc. now owns 7,512,485 shares of the company’s stock worth $521,216,000 after buying an additional 339,932 shares during the last quarter. FMR LLC boosted its position in Mednax by 1.3% in the first quarter. FMR LLC now owns 5,313,581 shares of the company’s stock worth $368,656,000 after buying an additional 68,581 shares during the last quarter. Longview Partners Guernsey LTD boosted its position 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 during the last quarter. Finally, State Street Corp boosted its position in Mednax by 2.2% in the first quarter. State Street Corp now owns 2,943,797 shares of the company’s stock worth $204,246,000 after buying an additional 62,812 shares during the last quarter.
Shares of Mednax, Inc (MD) traded up 0.91% during midday trading on Friday, hitting $42.27. 663,839 shares of the company’s stock traded hands. The company has a 50 day moving average price of $51.66 and a 200 day moving average price of $60.50. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 13.46 and a beta of 0.40. Mednax, Inc has a 1-year low of $41.52 and a 1-year high of $72.13.
Mednax (NYSE:MD) last released its quarterly earnings results on Friday, July 28th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.04. The firm had revenue of $843 million for the quarter, compared to analyst estimates of $849.49 million. Mednax had a net margin of 8.78% and a return on equity of 11.89%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Equities analysts anticipate that Mednax, Inc will post $3.31 earnings per share for the current year.
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A number of research firms have weighed in on MD. Stephens raised shares of Mednax from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $68.00 in a research report on Thursday, June 22nd. Jefferies Group LLC reissued a “hold” rating and issued a $58.00 price objective on shares of Mednax in a research report on Wednesday, April 26th. Stifel Nicolaus reduced their price target on shares of Mednax from $65.00 to $58.00 and set a “hold” rating on the stock in a research report on Thursday, May 25th. Zacks Investment Research raised shares of Mednax from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Finally, Mizuho reduced their price target on shares of Mednax from $64.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Mednax currently has a consensus rating of “Hold” and an average price target of $63.00.
In other news, Director Md Pascal J. Goldschmidt sold 1,969 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $57.57, for a total transaction of $113,355.33. Following the transaction, the director now directly owns 18,072 shares in the company, valued at $1,040,405.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Calabro sold 23,327 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 296,379 shares in the company, valued at $16,300,845. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
About Mednax
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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