Piper Jaffray Reiterates Overweight Rating, $91 PT on Mednax
In a report published Wednesday, Piper Jaffray & Co. reiterated its Overweight rating and $91.00 price target on Mednax (NYSE: MD) .
Piper Jaffray noted, “This morning, MEDNAX announced the acquisition of Anesthesiologists Associated and Pediatric Surgical and Associates. The anesthesia practice adds 34 anesthesiologists, 100 anesthetists and 24 other clinical and administrative staff, while the pediatric surgery practice adds six pediatric surgeons and 15 other clinical and administrative staff. Both acquisitions were ongoing over the last several months and became effective on December 31, 2012. MD will host a conference call on Thursday, Jan. 3 @ 10 AM ET to discuss its acquisition activity in 2012. Maintain Overweight rating and $91 PT as we remain encouraged with the company's M&A activity, the rate parity increase, and we expect positive comments on tomorrow's call.”
Mednax closed on Monday at $79.52.
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