Pediatrix Medical Group (NYSE:MD) Shares Gap Down - What's Next?

Key Points

• Pediatrix Medical Group shares gapped down, opening at $23.56 versus a prior close of $26.25, before trading near $26.49.
• Analyst sentiment remains cautious: one analyst rates the stock Buy and five rate it Hold, producing an overall “Hold” consensus and average price target of $23.33.
• The company reported quarterly EPS of $0.63, exceeding the $0.59 consensus estimate, while revenue increased 4.1% year over year.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $26.25, but opened at $23.56. Pediatrix Medical Group shares last traded at $26.4880, with a volume of 346,917 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, July 14th. UBS Group boosted their price objective on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Mizuho set a $24.00 target price 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. Finally, Jefferies Financial Group reissued a "buy" rating and set a $27.00 price target on shares of Pediatrix Medical Group in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $23.33.

Pediatrix Medical Group Stock Performance

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 cap of $2.05 billion, a price-to-earnings ratio of 12.12 and a beta of 0.66. The stock has a 50-day moving average price of $24.70 and a 200 day moving average price of $22.52.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.During the same period last year, the firm posted $0.53 earnings per share. Pediatrix Medical Group's revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling at Pediatrix Medical Group

In other news, Director Shirley A. Weis sold 36,028 shares of the stock in a transaction 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 available at this link. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pediatrix Medical Group

Several institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC raised 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 period. Transamerica Financial Advisors LLC bought a new position in shares of Pediatrix Medical Group during the 4th quarter worth approximately $30,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Pediatrix Medical Group during the 4th quarter worth approximately $33,000. Blue Trust Inc. acquired a new stake in shares of Pediatrix Medical Group in the fourth quarter valued at approximately $37,000. Finally, TD Private Client Wealth LLC acquired a new stake in shares of Pediatrix Medical Group in the fourth quarter valued at approximately $39,000. 97.71% of the stock is owned by institutional investors.

Pediatrix Medical Group Company Profile

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.