Pediatrix Medical Group (NYSE:MD) Issues Earnings Results

Key Points

• Pediatrix Medical Group reported a quarterly earnings per share (EPS) of $0.53, surpassing analysts' consensus estimate of $0.42 by $0.11, while revenue reached $468.84 million, exceeding estimates of $464.37 million.
• Despite the earnings beat, the company's revenues were down 7.1% from the same quarter last year, reflecting ongoing challenges in the market.
• Institutional investors hold a significant 97.71% of the company's stock, with UBS AM and Royal Bank of Canada recently increasing their stakes in Pediatrix Medical Group.

Pediatrix Medical Group (NYSE:MD - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.11, Briefing.com reports. The company had revenue of $468.84 million for the quarter, compared to the consensus estimate of $464.37 million. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%. The firm's revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share.

Pediatrix Medical Group Stock Performance

Shares of NYSE MD traded down $0.16 during mid-day trading on Friday, hitting $14.33. The company had a trading volume of 1,202,160 shares, compared to its average volume of 770,154. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.80 and a quick ratio of 1.81. The business's 50-day simple moving average is $13.41 and its 200-day simple moving average is $13.82. Pediatrix Medical Group has a 12 month low of $9.75 and a 12 month high of $17.67. The firm has a market cap of $1.25 billion, a P/E ratio of 11.10 and a beta of 1.21.

Institutional Investors Weigh In On Pediatrix Medical Group

Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Pediatrix Medical Group by 23.8% during the first quarter. Royal Bank of Canada now owns 22,097 shares of the company's stock worth $320,000 after purchasing an additional 4,247 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Pediatrix Medical Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company's stock worth $743,000 after purchasing an additional 2,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Pediatrix Medical Group by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,506 shares of the company's stock worth $3,891,000 after purchasing an additional 12,171 shares during the period. Finally, Cetera Investment Advisers bought a new position in Pediatrix Medical Group during the second quarter worth about $145,000. Institutional investors own 97.71% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MD. UBS Group lowered their price target on Pediatrix Medical Group from $18.50 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Macquarie raised their price target on Pediatrix Medical Group from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Truist Financial lowered their price target on Pediatrix Medical Group from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pediatrix Medical Group presently has an average rating of "Hold" and an average target price of $16.67.

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.