What’s Propelling MEDNAX Inc (MD) to Decrease? The Stock Formed a Multiple Bottom Pattern

November 7, 2017 - By Darrin Black

The stock of MEDNAX Inc (MD) shows a multiple bottoms pattern with $40.06 target or 9.00 % below today’s $44.02 share price. The 7 months chart pattern indicates high risk for the $4.12 billion company. It was reported on Nov, 7 by Finviz.com. If the $40.06 price target is reached, the company will be worth $370.80 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

About 588,561 shares traded. MEDNAX Inc (NYSE:MD) has declined 18.20% since November 7, 2016 and is downtrending. It has underperformed by 34.90% the S&P500.

MEDNAX Inc (NYSE:MD) Ratings Coverage

Among 15 analysts covering MEDNAX (NYSE:MD), 3 have Buy rating, 1 Sell and 11 Hold. Therefore 20% are positive. MEDNAX has $91.0 highest and $44.0 lowest target. $59.30’s average target is 34.71% above currents $44.02 stock price. MEDNAX had 39 analyst reports since July 31, 2015 according to SRatingsIntel. Zacks upgraded MEDNAX Inc (NYSE:MD) on Monday, August 31 to “Hold” rating. The firm earned “Neutral” rating on Wednesday, August 17 by Citigroup. The company was maintained on Thursday, November 2 by Jefferies. The company was downgraded on Monday, March 7 by Susquehanna. On Tuesday, December 13 the stock rating was downgraded by Jefferies to “Hold”. As per Monday, June 5, the company rating was maintained by Jefferies. JP Morgan initiated MEDNAX Inc (NYSE:MD) on Wednesday, September 16 with “Overweight” rating. The stock of MEDNAX Inc (NYSE:MD) has “Neutral” rating given on Friday, December 9 by Goldman Sachs. Stifel Nicolaus maintained it with “Buy” rating and $76 target in Tuesday, March 8 report. Raymond James downgraded the shares of MD in report on Thursday, October 27 to “Mkt Perform” rating.

Another recent and important MEDNAX Inc (NYSE:MD) news was published by Businesswire.com which published an article titled: “MEDNAX to Present at the Stifel 2017 Healthcare Conference” on November 07, 2017.

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