Short Interest in MEDNAX Inc (NYSE:MD) Grows By 7.9%

MEDNAX Inc (NYSE:MD) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 6,300,000 shares, a growth of 7.9% from the September 30th total of 5,840,000 shares. Approximately 7.8% of the company’s stock are short sold. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is currently 5.9 days.

Shares of MD traded down $0.57 on Monday, reaching $26.12. The company’s stock had a trading volume of 1,008,514 shares, compared to its average volume of 1,059,442. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.35. MEDNAX has a twelve month low of $19.93 and a twelve month high of $40.81. The stock has a market capitalization of $2.20 billion, a PE ratio of 7.44, a PEG ratio of 1.02 and a beta of 0.70. The firm has a fifty day moving average of $23.60 and a 200-day moving average of $24.13.

MEDNAX (NYSE:MD) last posted its earnings results on Friday, November 1st. The company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. MEDNAX had a negative net margin of 40.86% and a positive return on equity of 10.38%. The company had revenue of $888.70 million for the quarter, compared to analyst estimates of $876.20 million. During the same quarter in the prior year, the business posted $0.94 EPS. The firm’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that MEDNAX will post 3.02 EPS for the current fiscal year.

In other news, Director Md Pascal J. Goldschmidt sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $22.88, for a total transaction of $114,400.00. Following the transaction, the director now owns 10,821 shares of the company’s stock, valued at approximately $247,584.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in MEDNAX in the 2nd quarter valued at about $36,000. Benjamin F. Edwards & Company Inc. increased its stake in MEDNAX by 56.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,773 shares of the company’s stock valued at $40,000 after buying an additional 638 shares during the last quarter. Parallel Advisors LLC increased its stake in MEDNAX by 78.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,993 shares of the company’s stock valued at $45,000 after buying an additional 876 shares during the last quarter. US Bancorp DE increased its stake in MEDNAX by 38.5% in the 2nd quarter. US Bancorp DE now owns 5,657 shares of the company’s stock valued at $142,000 after buying an additional 1,572 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in MEDNAX in the 3rd quarter valued at about $161,000. Institutional investors own 91.85% of the company’s stock.

MD has been the topic of a number of research analyst reports. Mizuho set a $25.00 price objective on shares of MEDNAX and gave the stock a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research raised shares of MEDNAX from a “sell” rating to a “hold” rating and set a $23.00 price objective on the stock in a research report on Monday, October 14th. UBS Group cut their price objective on shares of MEDNAX from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Friday, October 18th. Bank of America cut shares of MEDNAX from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a research report on Friday, September 6th. Finally, Credit Suisse Group cut their price objective on shares of MEDNAX from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.56.

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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