State Treasurer State of Michigan Sells 1,500 Shares of MEDNAX Inc (MD)
State Treasurer State of Michigan trimmed its holdings in shares of MEDNAX Inc (NYSE:MD) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,700 shares of the company’s stock after selling 1,500 shares during the quarter. State Treasurer State of Michigan’s holdings in MEDNAX were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in MD. QS Investors LLC grew its position in MEDNAX by 0.3% during the second quarter. QS Investors LLC now owns 3,812 shares of the company’s stock valued at $230,000 after buying an additional 12 shares during the period. Nomura Holdings Inc. bought a new stake in MEDNAX during the second quarter valued at approximately $347,000. Verition Fund Management LLC bought a new stake in MEDNAX during the second quarter valued at approximately $516,000. Lord Abbett & CO. LLC bought a new stake in MEDNAX during the second quarter valued at approximately $14,346,000. Finally, Mutual of America Capital Management LLC grew its position in MEDNAX by 3.2% during the third quarter. Mutual of America Capital Management LLC now owns 77,239 shares of the company’s stock valued at $3,331,000 after buying an additional 2,422 shares during the period. Institutional investors own 95.22% of the company’s stock.
In other news, insider John C. Pepia sold 3,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $51.58, for a total value of $154,740.00. Following the transaction, the insider now owns 35,569 shares of the company’s stock, valued at $1,834,649.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by insiders.
MEDNAX (NYSE:MD) last released its earnings results on Thursday, February 8th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. MEDNAX had a net margin of 9.26% and a return on equity of 10.10%. The firm had revenue of $910.82 million for the quarter, compared to the consensus estimate of $884.55 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. research analysts expect that MEDNAX Inc will post 3.67 EPS for the current fiscal year.
MD has been the subject of a number of recent analyst reports. KeyCorp set a $51.00 price target on shares of MEDNAX and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Jefferies Group reiterated a “hold” rating and issued a $44.00 price target on shares of MEDNAX in a research report on Friday, November 3rd. Robert W. Baird upped their price target on shares of MEDNAX from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Citigroup dropped their price target on shares of MEDNAX from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Finally, Piper Jaffray Companies initiated coverage on shares of MEDNAX in a research report on Wednesday, December 13th. They issued an “overweight” rating and a $58.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $54.92.
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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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