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Watch for Continued Gains in Shares of Mednax (MD)

Published on Thu, 01/24/2013 - 15:26
By Adrienne Chilton

Shares of Mednax (NYSE:MD) traded today at $87.82, breaking its 52-week high. So far today approximately 137,000 shares have been exchanged, as compared to an average 30-day volume of 433,000 shares.

Mednax share prices have moved between a 52-week high of $87.82 and a 52-week low of $59.24 and are now trading 48% above that low price at $87.53 per share. The 200-day and 50-day moving averages have moved 0.19% higher and 0.53% higher over the past week, respectively.

Mednax (NYSE:MD) defies analysts with a current price ($87.53) 1.6% above its average consensus price target of $86.17. The stock should find initial support at its 50-day moving average (MA) of $80.11 and further support at its 200-day MA of $71.33.

MEDNAX, Inc., through a subsidiary, provides physician management services to hospital-based neonatal, maternal - fetal, pediatric cardiology, and pediatric intensive care specialties. The Company also manages anesthesia practices.

By Adrienne Chilton
achilton@fnno.com