Zacks: Brokerages Anticipate MEDNAX, Inc. (NYSE:MD) Will Announce Quarterly Sales of $474.58 Million

Brokerages expect MEDNAX, Inc. (NYSE:MD) to announce $474.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for MEDNAX’s earnings. The lowest sales estimate is $453.57 million and the highest is $493.29 million. MEDNAX reported sales of $460.64 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is scheduled to issue its next earnings results on Friday, November 5th.

On average, analysts expect that MEDNAX will report full year sales of $1.86 billion for the current fiscal year, with estimates ranging from $1.80 billion to $1.88 billion. For the next fiscal year, analysts expect that the company will report sales of $1.93 billion, with estimates ranging from $1.90 billion to $1.97 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for MEDNAX.

MEDNAX (NYSE:MD) last announced its earnings results on Friday, August 6th. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.09. MEDNAX had a negative net margin of 2.93% and a positive return on equity of 12.13%. The business had revenue of $473.00 million during the quarter, compared to analysts’ expectations of $453.12 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis.

A number of analysts have recently issued reports on MD shares. Stifel Nicolaus started coverage on shares of MEDNAX in a research note on Tuesday, June 22nd. They set a “hold” rating for the company. Zacks Investment Research upgraded shares of MEDNAX from a “sell” rating to a “hold” rating and set a $33.00 target price for the company in a research note on Friday, May 21st. raised their target price on shares of MEDNAX from $22.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, May 24th. Truist raised their target price on shares of MEDNAX from $32.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, August 9th. Finally, Truist Securities raised their target price on shares of MEDNAX from $32.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, August 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.67.

MD stock traded down $0.57 during trading hours on Friday, reaching $29.16. The stock had a trading volume of 329,520 shares, compared to its average volume of 749,984. The stock has a market capitalization of $2.52 billion, a PE ratio of -46.29, a price-to-earnings-growth ratio of 1.15 and a beta of 2.18. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a 50-day simple moving average of $30.88 and a 200 day simple moving average of $29.53. MEDNAX has a fifty-two week low of $12.47 and a fifty-two week high of $35.67.

In related news, CEO Mark S. Ordan sold 95,000 shares of MEDNAX stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $35.09, for a total transaction of $3,333,550.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Roger Mack Hinson sold 8,799 shares of MEDNAX stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $32.35, for a total transaction of $284,647.65. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of MEDNAX by 8.3% in the 1st quarter. Geode Capital Management LLC now owns 1,293,525 shares of the company’s stock valued at $32,946,000 after acquiring an additional 99,003 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of MEDNAX by 2.7% in the 1st quarter. New York State Common Retirement Fund now owns 1,629,580 shares of the company’s stock valued at $41,505,000 after acquiring an additional 42,789 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of MEDNAX in the 1st quarter valued at $2,561,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of MEDNAX by 22.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 24,200 shares of the company’s stock valued at $616,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its stake in shares of MEDNAX by 2.5% in the 2nd quarter. Integrated Investment Consultants LLC now owns 21,281 shares of the company’s stock valued at $642,000 after acquiring an additional 509 shares in the last quarter.

MEDNAX Company Profile

MEDNAX, Inc provides physician services including newborn, anesthesia, maternal-fetal, tele radiology, pediatric cardiology and other pediatric subspecialty care. The firm’s solution include anesthesiology & pain management, prenatal, neonatal, pediatric, radiology, tele radiology, revenue cycle management and perioperative improvement consulting.

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