Bank of America Cuts Mednax Services to Hold (MD)
Mednax Services (NYSE: MD) was downgraded by analysts at Bank of America (NYSE: BAC) from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They currently have a $73.00 price target on the stock.
Separately, analysts at Deutsche Bank (NYSE: DB) downgraded shares of Mednax Services from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $73.00 price target on the stock, down previously from $81.00.
Mednax Services traded down 0.64% on Friday, hitting $65.38. Mednax Services has a 1-year low of $58.48 and a 1-year high of $75.86. The company has a market cap of $3.230 billion and a price-to-earnings ratio of 14.60.
Mednax Services last released its earnings data on Thursday, May 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.02. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts expect that Mednax Services will post $1.31 EPS next quarter.
MEDNAX, Inc., (MEDNAX), formerly Pediatrix Medical Group, Inc., is a provider of physician services, including newborn, maternal-fetal, pediatric subspecialty and anesthesia care.