Investing

Starboard Value Cuts Stake in Mednax

Fintel reports that Starboard Value LP has filed a 13D/A form with the SEC disclosing ownership of 3,348,578 shares of MEDNAX Inc (MD). This represents 4.0% of the company.

In their previous filing dated December 2, 2022 they reported 5,915,000 shares and 7.10% of the company, a decrease in shares of 43.39% and a decrease in total ownership of 3.10% (calculated as current – previous percent ownership).

Mednax, Inc. is a national medical group comprised of the nation’s leading providers of physician services. Physicians and advanced practitioners practicing as part of Mednax are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, clinical research and telehealth programs to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional entities, Mednax provides services through a network of more than 2,300 physicians in 39 states and Puerto Rico.

What are other large shareholders doing?

Earnest Partners Llc holds 6,760,729 shares representing 8.25% ownership of the company. In it’s prior filing, the firm reported owning 6,825,902 shares, representing a decrease of 0.96%. The firm decreased its portfolio allocation in MD by 21.51% over the last quarter.

Alliancebernstein L.p. holds 6,496,913 shares representing 7.93% ownership of the company. In it’s prior filing, the firm reported owning 7,248,231 shares, representing a decrease of 11.56%. The firm decreased its portfolio allocation in MD by 25.34% over the last quarter.

Lazard Asset Management Llc holds 6,019,923 shares representing 7.35% ownership of the company. In it’s prior filing, the firm reported owning 4,341,665 shares, representing an increase of 27.88%. The firm increased its portfolio allocation in MD by 17.71% over the last quarter.

Starboard Value LP holds 5,915,000 shares representing 7.22% ownership of the company. No change in the last quarter.

ArrowMark Colorado Holdings LLC holds 3,641,718 shares representing 4.45% ownership of the company. In it’s prior filing, the firm reported owning 2,750,953 shares, representing an increase of 24.46%. The firm increased its portfolio allocation in MD by 11.50% over the last quarter.

What is the overall Fund Sentiment?

There are 514 funds or institutions reporting positions in MEDNAX Inc. This is a decrease of 24 owner(s) or 4.46%.

Average portfolio weight of all funds dedicated to MEDNAX Inc is 0.1491%, a decrease of 7.5488%. Total shares owned by institutions decreased in the last three months by 2.93% to 97,753,258 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe. Click to see the Fintel Fund Sentiment Score for MD / MEDNAX Inc.

This article originally appeared on Fintel

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