MEDNAX (NYSE:MD) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

MEDNAX (NYSE:MD) announced its quarterly earnings results on Thursday. The company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11, Briefing.com reports. MEDNAX had a negative net margin of 3.53% and a positive return on equity of 9.34%. The business had revenue of $868.31 million for the quarter, compared to analysts’ expectations of $868.71 million. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. MEDNAX updated its Q3 2019 guidance to $0.88-0.96 EPS and its Q3 guidance to $0.88 to $0.96 EPS.

NYSE:MD traded up $0.13 during trading hours on Friday, hitting $22.34. The stock had a trading volume of 813,732 shares, compared to its average volume of 666,276. The business’s 50 day moving average price is $24.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.71 and a quick ratio of 2.55. MEDNAX has a one year low of $21.80 and a one year high of $48.77. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67.

Several research firms have commented on MD. Zacks Investment Research lowered shares of MEDNAX from a “hold” rating to a “sell” rating and set a $26.00 price objective for the company. in a research note on Wednesday, July 3rd. UBS Group decreased their price target on shares of MEDNAX to $20.00 and set a “sell” rating for the company in a research note on Wednesday, July 24th. Citigroup set a $36.00 price target on shares of MEDNAX and gave the stock a “buy” rating in a research note on Friday, May 3rd. Mizuho decreased their price target on shares of MEDNAX from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Jefferies Financial Group decreased their price target on shares of MEDNAX from $37.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. MEDNAX currently has a consensus rating of “Hold” and an average price target of $34.60.

Several hedge funds and other institutional investors have recently bought and sold shares of MD. Dimensional Fund Advisors LP raised its position in MEDNAX by 17.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,615,192 shares of the company’s stock worth $86,301,000 after purchasing an additional 381,394 shares during the period. Nordea Investment Management AB raised its position in MEDNAX by 41.5% in the 1st quarter. Nordea Investment Management AB now owns 2,411,506 shares of the company’s stock worth $65,521,000 after purchasing an additional 707,038 shares during the period. First Trust Advisors LP raised its position in MEDNAX by 40.8% in the 1st quarter. First Trust Advisors LP now owns 1,457,639 shares of the company’s stock worth $39,604,000 after purchasing an additional 422,706 shares during the period. Lazard Asset Management LLC raised its position in MEDNAX by 150.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,390,670 shares of the company’s stock worth $37,784,000 after purchasing an additional 835,444 shares during the period. Finally, Norges Bank purchased a new position in MEDNAX in the 4th quarter worth $34,138,000. 91.60% of the stock is owned by institutional investors.

MEDNAX Company Profile

MEDNAX, Inc, together with its subsidiaries, provides newborn, anesthesia, maternal-fetal, radiology and teleradiology, pediatric cardiology, and other pediatric subspecialty physician services in the United States and Puerto Rico. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians; anesthesia and anesthesia subspecialty care services; and acute and chronic pain management services.

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Earnings History for MEDNAX (NYSE:MD)

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