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

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) shares 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 traded.

Analyst Ratings Changes

MD has been the topic of several analyst reports. Macquarie increased their target price on Pediatrix Medical Group from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. UBS Group raised 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, Zacks Research raised Pediatrix Medical Group to a "strong-buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.75.

Pediatrix Medical Group Stock Up 5.1%

The firm has a 50 day moving average of $13.76 and a two-hundred day moving average of $13.93. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 13.16 and a beta of 1.21. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.70.

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

Hedge Funds Weigh In On Pediatrix Medical Group

Several large investors have recently bought and sold shares of MD. Nuveen LLC bought a new position in Pediatrix Medical Group in the first quarter valued at about $8,024,000. Ameriprise Financial Inc. raised its position in Pediatrix Medical Group by 175.4% in the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company's stock valued at $10,683,000 after purchasing an additional 474,186 shares during the last quarter. American Century Companies Inc. raised its position 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 purchasing an additional 430,029 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Pediatrix Medical Group by 669.4% during the second quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company's stock worth $6,832,000 after acquiring an additional 414,216 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of Pediatrix Medical Group by 75,200.0% in the second quarter. Hillsdale Investment Management Inc. now owns 376,500 shares of the company's stock worth $5,403,000 after acquiring an additional 376,000 shares during the period. 97.71% of the stock is currently owned by institutional investors.

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.