MEDNAX (NYSE:MD) Downgraded by Zacks Investment Research

MEDNAX (NYSE:MDGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports. They currently have a $25.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 2.25% from the company’s current price.

According to Zacks, “Mednax’s American Anesthesiology divestiture should help it reduce its risk profile and streamline its operations as well. The move helped it mitigate cash losses induced by the pandemic. The company also divested its Radiology Solutions medical group to focus more on its core business. Revenues have been benefiting from inorganic growth through strategic acquisitions. It continues to expand its telemedicine services, which will bring in more profits. Its shares have underperformed the industry in a year. Nevertheless, Mednax expects its adjusted EBITDA for 2022 to be at least $270 million, indicating an increase from the 2021 level of $265.5 million. However, the company's high debt level bothers. Lower ROE is another concern. Its stretched valuation is an added woe for the company. As such, the stock warrants a cautious stance.”

A number of other research firms have also weighed in on MD. TheStreet lowered shares of MEDNAX from a “b-” rating to a “c+” rating in a research report on Wednesday, April 13th. StockNews.com began coverage on MEDNAX in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Credit Suisse Group lowered their price objective on MEDNAX from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, MEDNAX presently has a consensus rating of “Hold” and a consensus price target of $29.38.

Shares of NYSE MD traded up $0.71 during trading on Wednesday, reaching $24.45. The company had a trading volume of 3,051 shares, compared to its average volume of 452,101. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.12. MEDNAX has a twelve month low of $22.31 and a twelve month high of $35.67. The stock has a 50-day moving average price of $23.55 and a two-hundred day moving average price of $25.41. The stock has a market capitalization of $2.13 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 1.52 and a beta of 2.06.

MEDNAX (NYSE:MDGet Rating) last posted its quarterly earnings data on Thursday, February 17th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. MEDNAX had a return on equity of 15.26% and a net margin of 6.85%. The firm had revenue of $498.53 million during the quarter, compared to analysts’ expectations of $482.50 million. During the same quarter last year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts predict that MEDNAX will post 1.74 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its stake in shares of MEDNAX by 1.5% in the 4th quarter. Maryland State Retirement & Pension System now owns 34,465 shares of the company’s stock valued at $938,000 after acquiring an additional 506 shares during the period. Thrivent Financial for Lutherans raised its position in MEDNAX by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 70,451 shares of the company’s stock valued at $1,917,000 after purchasing an additional 609 shares during the period. Profund Advisors LLC lifted its stake in shares of MEDNAX by 8.2% during the fourth quarter. Profund Advisors LLC now owns 9,308 shares of the company’s stock worth $253,000 after purchasing an additional 706 shares in the last quarter. M&T Bank Corp boosted its position in shares of MEDNAX by 4.7% in the fourth quarter. M&T Bank Corp now owns 16,569 shares of the company’s stock worth $451,000 after buying an additional 739 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of MEDNAX by 2.5% in the fourth quarter. Victory Capital Management Inc. now owns 32,865 shares of the company’s stock valued at $894,000 after buying an additional 807 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

MEDNAX Company Profile (Get Rating)

MEDNAX, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care 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.

Read More

Get a free copy of the Zacks research report on MEDNAX (MD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for MEDNAX (NYSE:MD)

Receive News & Ratings for MEDNAX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEDNAX and related companies with MarketBeat.com's FREE daily email newsletter.