Pediatrix Medical Group (NYSE:MD) Issues Quarterly Earnings Results

Key Points

• Pediatrix Medical Group beat quarterly earnings expectations, reporting EPS of $0.63 versus the $0.59 consensus estimate. Revenue increased 4.1% year over year, while EPS rose from $0.53 in the same quarter last year.
• MD shares opened at $26.24, near their 12-month high of $27.94, with a $2.15 billion market capitalization and a price-to-earnings ratio of 12.74.
• Analysts remain cautious: one rates the stock Buy and five rate it Hold, producing an overall “Hold” consensus and an average price target of $23.33. Institutional investors own 97.71% of the company.

Pediatrix Medical Group (NYSE:MD - Get Free Report) announced its earnings results on Tuesday. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04, FiscalAI reports. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. During the same quarter in the previous year, the firm posted $0.53 EPS. The business's quarterly revenue was up 4.1% on a year-over-year basis.

Pediatrix Medical Group Price Performance

Shares of MD stock opened at $26.24 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $2.15 billion, a PE ratio of 12.74 and a beta of 0.66. The firm's 50-day moving average is $24.70 and its two-hundred day moving average is $22.52. Pediatrix Medical Group has a 12 month low of $11.90 and a 12 month high of $27.94.

Insider Buying and Selling at Pediatrix Medical Group

In other news, Director Shirley A. Weis sold 36,028 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total transaction of $855,665.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pediatrix Medical Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its stake in shares of Pediatrix Medical Group by 68,250.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,367 shares of the company's stock valued at $29,000 after purchasing an additional 1,365 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new stake in shares of Pediatrix Medical Group during the 4th quarter worth about $30,000. Los Angeles Capital Management LLC purchased a new stake in Pediatrix Medical Group in the 4th quarter valued at about $43,000. Kemnay Advisory Services Inc. purchased a new stake in Pediatrix Medical Group in the 4th quarter valued at about $71,000. Finally, Canada Pension Plan Investment Board acquired a new position in Pediatrix Medical Group in the second quarter valued at about $83,000. Institutional investors and hedge funds own 97.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $27.00 price target on shares of Pediatrix Medical Group in a research note on Monday, April 20th. Mizuho set a $24.00 price objective on shares of Pediatrix Medical Group in a research note on Friday, May 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. Truist Financial raised their target price on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Finally, UBS Group boosted their target price on Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $23.33.

About Pediatrix Medical Group

Pediatrix Medical Group, Inc NYSE: MD is a national physician-led medical group specializing in high-acuity newborn, maternal-fetal and pediatric subspecialty care. Headquartered in Sunrise, Florida, the company delivers clinical services through hospital-based physician staffing, advanced practitioner support and telemedicine programs. Its core specialties include neonatology, maternal-fetal medicine, pediatric cardiology, pediatric critical care, pediatric emergency medicine and anesthesiology.

Founded in 1979 and formerly known as MEDNAX, the company rebranded as Pediatrix Medical Group in 2022 to align its corporate identity with its primary clinical offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.