Pediatrix Medical Group (NYSE:MD) Shares Gap Up - Time to Buy?

Key Points

• Pediatrix Medical Group shares opened at $16.69 after closing at $16.00, demonstrating a positive movement before the market opened.
• The company received a "strong-buy" rating from Zacks Research and analysts have set a consensus price target of $16.75 for its stock.
• Pediatrix reported a net margin of 5.66% and earnings per share of $0.53 for the last quarter, exceeding analysts' expectations.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $16.00, but opened at $16.69. Pediatrix Medical Group shares last traded at $16.72, with a volume of 150,475 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MD. Zacks Research upgraded Pediatrix Medical Group to a "strong-buy" rating in a research note on Monday, August 11th. UBS Group lifted their price objective on Pediatrix Medical Group from $16.00 to $16.50 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Finally, Macquarie lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.75.

Pediatrix Medical Group Trading Up 4.8%

The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 12.99 and a beta of 1.21. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $13.58 and a two-hundred day moving average price of $13.86.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.42 by $0.11. Pediatrix Medical Group had a net margin of 5.66% and a return on equity of 18.94%. The firm had revenue of $468.84 million for the quarter, compared to analyst estimates of $464.37 million. During the same quarter in the previous year, the company earned $0.34 EPS. The business's revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, research analysts forecast that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nuveen LLC acquired a new position in Pediatrix Medical Group in the first quarter valued at $8,024,000. Ameriprise Financial Inc. raised its holdings in Pediatrix Medical Group by 175.4% during the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company's stock worth $10,683,000 after purchasing an additional 474,186 shares in the last quarter. Oberweis Asset Management Inc. purchased a new position in Pediatrix Medical Group during the fourth quarter worth about $6,122,000. American Century Companies Inc. increased its holdings in Pediatrix Medical Group by 28.6% in the second quarter. American Century Companies Inc. now owns 1,931,867 shares of the company's stock valued at $27,722,000 after buying an additional 430,029 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Pediatrix Medical Group by 669.4% in the second quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company's stock valued at $6,832,000 after buying an additional 414,216 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company's stock.

About Pediatrix Medical Group

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.

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