Pediatrix Medical Group (NYSE:MD) Stock Rating Cut to "Underperform" at Mizuho

Key Points

• Mizuho downgraded Pediatrix Medical Group to “underperform” from “neutral” and set a $28 price target, implying 11.26% downside from the stock’s price at the time of the report.
• Analyst views remain mixed, but the consensus rating is “hold” with an average target price of $28; one analyst rates the stock Buy, five Hold, and one Sell.
• Pediatrix beat quarterly expectations, reporting EPS of $0.72 versus $0.65 expected and revenue of $501.37 million versus $498.18 million; revenue grew 1.7% year over year.

Pediatrix Medical Group (NYSE:MD - Get Free Report) was downgraded by analysts at Mizuho from a "neutral" rating to an "underperform" rating in a report issued on Wednesday, FinViz reports. They currently have a $28.00 price objective on the stock. Mizuho's target price would indicate a potential downside of 11.26% from the company's current price.

A number of other equities analysts also recently commented on MD. Jefferies Financial Group downgraded Pediatrix Medical Group from a "buy" rating to a "hold" rating and raised their price objective for the stock from $27.00 to $28.00 in a report on Wednesday, August 19th. Truist Financial boosted their target price on Pediatrix Medical Group from $28.00 to $31.00 and gave the stock a "hold" rating in a report on Friday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $25.00 target price on shares of Pediatrix Medical Group in a report on Wednesday, August 5th. Weiss Ratings raised shares of Pediatrix Medical Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, September 9th. Finally, Wall Street Zen upgraded shares of Pediatrix Medical Group from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 13th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pediatrix Medical Group has an average rating of "Hold" and an average target price of $28.00.

Pediatrix Medical Group Stock Up 0.2%

Shares of MD opened at $31.55 on Wednesday. Pediatrix Medical Group has a fifty-two week low of $17.23 and a fifty-two week high of $33.74. The company's fifty day moving average is $27.60 and its two-hundred day moving average is $24.19. The firm has a market cap of $2.46 billion, a PE ratio of 17.15 and a beta of 0.62. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. Pediatrix Medical Group had a return on equity of 20.12% and a net margin of 7.66%. The business had revenue of $501.37 million for the quarter, compared to analyst estimates of $498.18 million. During the same period last year, the company posted $0.67 EPS. The business's quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that Pediatrix Medical Group will post 2.21 earnings per share for the current year.

Institutional Investors Weigh In On Pediatrix Medical Group

Several institutional investors and hedge funds have recently modified their holdings of MD. Bank of America Corp DE purchased a new stake in shares of Pediatrix Medical Group during the 2nd quarter valued at about $7,837,000. The Manufacturers Life Insurance Company purchased a new position in Pediatrix Medical Group in the 2nd quarter worth approximately $1,030,000. SummerHaven Investment Management LLC boosted its holdings in Pediatrix Medical Group by 92.7% in the 3rd quarter. SummerHaven Investment Management LLC now owns 111,299 shares of the company's stock worth $2,864,000 after acquiring an additional 53,534 shares during the period. Tidal Investments LLC boosted its holdings in Pediatrix Medical Group by 253.9% in the 2nd quarter. Tidal Investments LLC now owns 616,048 shares of the company's stock worth $15,604,000 after acquiring an additional 441,959 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Pediatrix Medical Group in the second quarter valued at approximately $1,854,000. Hedge funds and other institutional investors own 97.71% of the company's stock.

Pediatrix Medical Group Company Profile

Pediatrix Medical Group provides physician services to hospitals and other healthcare facilities across the United States. Its clinicians care for women, newborns and children, working with healthcare partners to support patients in hospital and other clinical settings. The company's services include neonatal care, maternal-fetal medicine and pediatric subspecialties. Its physicians and advanced practice providers deliver care such as treatment for high-risk pregnancies and specialized medical services for newborns and children.

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