Profit Investment Management Lowers stake in MEDNAX Inc (MD)

MEDNAX Inc (MD) : Profit Investment Management reduced its stake in MEDNAX Inc by 32.42% during the most recent quarter end. The investment management company now holds a total of 13,868 shares of MEDNAX Inc which is valued at $917,507 after selling 6,652 shares in MEDNAX Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.MEDNAX Inc makes up approximately 0.93% of Profit Investment Management’s portfolio.

Other Hedge Funds, Including , Highland Capital Management sold out all of its stake in MD during the most recent quarter. The investment firm sold 24,100 shares of MD which is valued $1,594,456. Washington Trust Bank added MD to its portfolio by purchasing 10 company shares during the most recent quarter which is valued at $669.

MEDNAX Inc closed down -1.36 points or -2.03% at $65.66 with 2,31,565 shares getting traded on Tuesday. Post opening the session at $66.76, the shares hit an intraday low of $65.38 and an intraday high of $67.17 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, MEDNAX Inc reported $1.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $1.07. The company had revenue of $771.80 million for the quarter, compared to analysts expectations of $774.46 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.

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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