Mizuho Securities Reiterates Buy on MEDNAX (MD) After Meeting with Management
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Mizuho Securities reiterated a Buy rating and $79.00 price target on Mednax (NYSE: MD) after hosting investor meetings with management. Mizuho believes that MD should be able to meet 3Q consensus adjusted EPS and EBTIDA estimates of $1.10 and $182M, respectively. This comes after a rare 2Q miss, as well as negative sentiment in the physician services group.
Analyst Ann Hynes commented, "We recently hosted investor meetings with MD CEO Roger Medel. The meetings reinforced our positive long-term outlook. We believe that the recent weakness post 2Q presents a buying opportunity. We think 3Q16 earnings should be catalyst for the stock and, post our meetings, we believe current 3Q estimates are achievable given: 1) stable underlying demand; 2) M&A and cross selling opportunities; 3) further integration of its RCM segment; and 4) solid balance sheet and cash flow."
Shares of Mednax closed at $64.72 yesterday.
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