Pediatrix Medical Group (NYSE:MD) Downgraded by Zacks Research to Hold

Key Points

• Pediatrix Medical Group (NYSE:MD) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, indicating a potential shift in investor sentiment.
• Recent analyst reports have resulted in mixed ratings, with two analysts giving a "buy" rating and seven maintaining a "hold" rating, leading to a consensus target price of $16.79.
• The company's stock price decreased by 2.7% and is currently trading at $17.12, with a market cap of $1.49 billion.

Pediatrix Medical Group (NYSE:MD - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

MD has been the topic of several other reports. Leerink Partners increased their target price on Pediatrix Medical Group from $14.50 to $17.00 and gave the stock a "market perform" rating in a report on Friday, September 5th. UBS Group boosted their target price on shares of Pediatrix Medical Group from $16.00 to $16.50 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Wall Street Zen raised shares of Pediatrix Medical Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 4th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Pediatrix Medical Group in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.79.

Pediatrix Medical Group Stock Down 2.7%

MD stock opened at $17.12 on Tuesday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 13.27 and a beta of 1.26. Pediatrix Medical Group has a twelve month low of $11.59 and a twelve month high of $18.22. The business has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $14.48. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.70.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.11. Pediatrix Medical Group had a net margin of 5.66% and a return on equity of 18.94%. The business had revenue of $468.84 million for the quarter, compared to analyst estimates of $464.37 million. During the same quarter in the prior year, the business earned $0.34 EPS. Pediatrix Medical Group's quarterly revenue was down 7.1% on a year-over-year basis. Analysts anticipate that Pediatrix Medical Group will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Pediatrix Medical Group

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Pediatrix Medical Group by 4,530.0% during the 1st quarter. GAMMA Investing LLC now owns 37,225 shares of the company's stock worth $539,000 after buying an additional 36,421 shares during the period. SG Americas Securities LLC increased its position in Pediatrix Medical Group by 194.0% during the 1st quarter. SG Americas Securities LLC now owns 38,405 shares of the company's stock valued at $556,000 after purchasing an additional 25,343 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Pediatrix Medical Group by 0.9% during the first quarter. SummerHaven Investment Management LLC now owns 112,327 shares of the company's stock worth $1,628,000 after buying an additional 1,028 shares during the period. Ritholtz Wealth Management raised its stake in Pediatrix Medical Group by 73.7% during the first quarter. Ritholtz Wealth Management now owns 24,119 shares of the company's stock worth $349,000 after buying an additional 10,236 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in Pediatrix Medical Group in the first quarter valued at $236,000. Institutional investors own 97.71% of the company's stock.

Pediatrix Medical Group Company Profile

Pediatrix Medical Group, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care services in the United States. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians.

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