Mednax, Inc (NYSE:MD) Shares Sold by PNC Financial Services Group Inc. – Dispatch Tribunal


PNC Financial Services Group Inc. lowered its holdings in Mednax, Inc (NYSE:MD) by 34.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,934 shares of the company’s stock after selling 3,165 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mednax were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MD. Pacer Advisors Inc. lifted its stake in Mednax by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,940 shares of the company’s stock valued at $117,000 after acquiring an additional 145 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Mednax by 15.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,205 shares of the company’s stock valued at $132,000 after acquiring an additional 293 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Mednax by 20.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,000 shares of the company’s stock valued at $181,000 after acquiring an additional 500 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in Mednax during the 2nd quarter valued at $217,000. Finally, State of Alaska Department of Revenue lifted its stake in Mednax by 6.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,393 shares of the company’s stock valued at $265,000 after acquiring an additional 257 shares in the last quarter.

In related news, insider John C. Pepia sold 3,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $42.85, for a total transaction of $128,550.00. Following the completion of the sale, the insider now owns 35,569 shares in the company, valued at $1,524,131.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

A number of research firms have recently commented on MD. Jefferies Group LLC reiterated a “hold” rating and set a $53.00 target price (up from $50.00) on shares of Mednax in a research note on Thursday, July 6th. BidaskClub cut Mednax from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Mizuho reissued a “neutral” rating and issued a $48.00 price objective (down previously from $62.00) on shares of Mednax in a report on Tuesday, August 1st. Robert W. Baird reissued a “hold” rating and issued a $47.00 price objective on shares of Mednax in a report on Sunday, September 3rd. Finally, Zacks Investment Research raised Mednax from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $55.44.

Mednax, Inc (MD) opened at 44.28 on Friday. The firm’s 50-day moving average price is $43.13 and its 200-day moving average price is $51.34. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 14.10 and a beta of 0.37. Mednax, Inc has a 12-month low of $40.78 and a 12-month high of $72.13.

Mednax (NYSE:MD) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. Mednax had a return on equity of 11.89% and a net margin of 8.78%. The firm had revenue of $843.00 million for the quarter, compared to the consensus estimate of $849.49 million. During the same quarter last year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities analysts predict that Mednax, Inc will post $3.30 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Mednax, Inc (NYSE:MD) Shares Sold by PNC Financial Services Group Inc.” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2017/10/29/pnc-financial-services-group-inc-has-359000-stake-in-mednax-inc-md.html.

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.

Institutional Ownership by Quarter for Mednax (NYSE:MD)




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