CLearline Capital’s 5 Best Catalyst-Driven Value Stocks to Buy Now

2. Mednax Inc. (NYSE:MD)

Clearline bought another 440,869 Mednax Inc. (NYSE:MD) shares during Q3, giving it 1.36 million shares worth $22.18 million on September 30. There was a surge in hedge fund ownership of Mednax at the end of 2019 after Jeffrey Smith’s Starboard Value took a stake in the health services company and pushed for a partial or full sale and to remake its board.

The acclaimed activist has been successful on both counts, reaching a settlement with the company in July that included its CEO being removed and several board members replaced. Mednax then announced in September that it would be divesting its radiology business in a deal for $885 million, improving its struggling balance sheet and allowing it to focus on its core businesses.