Pediatrix Medical Group (NYSE:MD) Releases Earnings Results, Beats Estimates By $0.11 EPS

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 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 quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS.

Pediatrix Medical Group Stock Down 0.5%

Shares of MD stock traded down $0.07 during mid-day trading on Thursday, hitting $14.38. 449,852 shares of the stock traded hands, compared to its average volume of 742,680. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.02 and a quick ratio of 1.81. The stock has a market cap of $1.23 billion, a P/E ratio of 11.15 and a beta of 1.21. The stock's fifty day moving average is $13.40 and its two-hundred day moving average is $13.82. Pediatrix Medical Group has a 52-week low of $9.50 and a 52-week high of $17.67.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MD shares. Macquarie upped their price objective on shares of Pediatrix Medical Group from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. UBS Group decreased their price target on Pediatrix Medical Group from $18.50 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Finally, Truist Financial lowered their target price on shares of 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.67.

Institutional Trading of Pediatrix Medical Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Pediatrix Medical Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company's stock valued at $743,000 after buying an additional 2,251 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Pediatrix Medical Group by 23.8% during the 1st quarter. Royal Bank of Canada now owns 22,097 shares of the company's stock worth $320,000 after acquiring an additional 4,247 shares in the last quarter. Hedge funds and other 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.