Palisade Capital Managementnj buys $39.4 Million stake in MEDNAX Inc (MD)

MEDNAX Inc (MD) : Palisade Capital Managementnj scooped up 60,932 additional shares in MEDNAX Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 573,489 shares of MEDNAX Inc which is valued at $39.4 Million.MEDNAX Inc makes up approximately 1.52% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Sumitomo Mitsui Asset Management Company Ltd boosted its stake in MD in the latest quarter, The investment management firm added 152 additional shares and now holds a total of 6,364 shares of MEDNAX Inc which is valued at $436,698. MEDNAX Inc makes up approx 0.01% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Morgan Dempsey Capital Management reduced its stake in MD by selling 1,159 shares or 56.7% in the most recent quarter. The Hedge Fund company now holds 885 shares of MD which is valued at $60,729. MEDNAX Inc makes up approx 0.02% of Morgan Dempsey Capital Management’s portfolio.First Mercantile Trust Co reduced its stake in MD by selling 2,913 shares or 19.48% in the most recent quarter. The Hedge Fund company now holds 12,042 shares of MD which is valued at $858,474. MEDNAX Inc makes up approx 0.10% of First Mercantile Trust Co’s portfolio.Great West Life Assurance Co Can boosted its stake in MD in the latest quarter, The investment management firm added 115,222 additional shares and now holds a total of 150,842 shares of MEDNAX Inc which is valued at $10.8 Million. MEDNAX Inc makes up approx 0.04% of Great West Life Assurance Co Can’s portfolio.

MEDNAX Inc closed down -0.07 points or -0.10% at $68.55 with 7,38,298 shares getting traded on Monday. Post opening the session at $68.53, the shares hit an intraday low of $68.23 and an intraday high of $69.23 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, MEDNAX Inc reported $0.87 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.87. The company had revenue of $752.60 million for the quarter, compared to analysts expectations of $741.00 million. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on MEDNAX Inc. Company shares were Reiterated by Mizuho on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 79 from a previous price target of $75 .Shares were Reiterated by Stifel on Mar 8, 2016 to “Buy” and Lowered the Price Target to $ 76 from a previous price target of $81 .MEDNAX Inc was Downgraded by Susquehanna to ” Neutral” on Mar 7, 2016.

MEDNAX Inc. (MEDNAX) is a provider of physician services including newborn maternal-fetal and other pediatric subspecialty care. The Company provides clinical care to babies born prematurely or with complications within specific hospital units primarily neonatal intensive care units (NICUs). It provides anesthesia care at more than 90 hospitals 100 ambulatory surgery centers and office-based practices with over 950 of its affiliated anesthesiologists. It provides acute and chronic pain management services in over 20 pain management centers through its network of physicians and physician assistants. It provides inpatient and office-based clinical care to expectant mothers and their unborn babies through its over 245 affiliated maternal-fetal medicine subspecialists as well as obstetricians and other clinicians. Its network includes other pediatric subspecialists such as pediatric intensivists pediatric hospitalists and pediatric surgeons.

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