Pediatrix Medical Group (NYSE:MD) Shares Gap Up Following Strong Earnings

Key Points

• Pediatrix Medical Group's share price increased from a prior close of $12.30 to an opening value of $13.57 before last trading at $13.27.
• Analysts have mixed reviews for the stock, with a new price target set at $20.00 by Macquarie, while Truist and UBS adjusted their targets down to $16.00.
• The company reported an earnings per share (EPS) of $0.33, surpassing expectations, although revenue decreased by 7.4% year-over-year.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.30, but opened at $13.57. Pediatrix Medical Group shares last traded at $13.27, with a volume of 52,885 shares.

The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%. The firm had revenue of $468.84 million for the quarter, compared to analysts' expectations of $464.37 million. During the same period last year, the firm earned $0.34 EPS. The firm's revenue was down 7.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research firms recently commented on MD. Truist Financial lowered their target price 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. UBS Group decreased their price target on Pediatrix Medical Group from $18.50 to $16.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Finally, Macquarie increased their price target on Pediatrix Medical Group from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Pediatrix Medical Group presently has an average rating of "Hold" and a consensus target price of $16.67.

Institutional Investors Weigh In On Pediatrix Medical Group

Several large investors have recently modified their holdings of MD. Nuveen LLC bought a new stake in shares of Pediatrix Medical Group during the 1st quarter worth $8,024,000. Oberweis Asset Management Inc. bought a new stake in shares of Pediatrix Medical Group during the 4th quarter worth $6,122,000. Renaissance Technologies LLC boosted its stake in shares of Pediatrix Medical Group by 117.4% during the 4th quarter. Renaissance Technologies LLC now owns 838,800 shares of the company's stock worth $11,005,000 after acquiring an additional 453,000 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Pediatrix Medical Group during the 4th quarter worth $3,882,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Pediatrix Medical Group by 110.8% during the 4th quarter. Nuveen Asset Management LLC now owns 485,587 shares of the company's stock worth $6,371,000 after acquiring an additional 255,273 shares in the last quarter. 97.71% of the stock is owned by institutional investors.

Pediatrix Medical Group Trading Down 1.1%

The firm has a market capitalization of $1.25 billion, a P/E ratio of 11.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.81 and a current ratio of 1.80. The firm has a 50 day moving average price of $13.41 and a two-hundred day moving average price of $13.82.

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.