Pediatrix Medical Group (NYSE:MD) Stock Price Down 5.1% - Here's Why

Key Points

• Pediatrix Medical Group shares fell 5.1% on Tuesday, closing well below the previous day’s level as trading volume also came in far under average.
• Analyst sentiment remains mixed: most firms have Hold ratings on MD, with an average price target of $23.33, while only one analyst rates it a Buy.
• The company recently beat quarterly expectations, reporting EPS of $0.44 versus $0.37 expected and revenue of $476.2 million, up 3.9% year over year.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report)'s share price was down 5.1% during trading on Tuesday . The company traded as low as $24.44 and last traded at $24.7960. 222,207 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 797,997 shares. The stock had previously closed at $26.14.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MD. Mizuho set a $24.00 price target on Pediatrix Medical Group in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a research report on Monday, April 20th. UBS Group lifted their target price on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Truist Financial boosted 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 report on Tuesday. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $23.33.

Pediatrix Medical Group Trading Down 5.5%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50 day simple moving average of $23.66 and a two-hundred day simple moving average of $22.08. The firm has a market cap of $2.03 billion, a PE ratio of 12.00 and a beta of 0.66.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.The firm had revenue of $476.20 million during the quarter, compared to analysts' expectations of $465.83 million. During the same period last year, the business posted $0.33 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pediatrix Medical Group 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

Institutional Trading of Pediatrix Medical Group

Several large investors have recently made changes to their positions in the business. Phocas Financial Corp. grew its position in Pediatrix Medical Group by 44.5% during the 4th quarter. Phocas Financial Corp. now owns 335,551 shares of the company's stock worth $7,177,000 after purchasing an additional 103,328 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Pediatrix Medical Group during the 4th quarter valued at about $2,163,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Pediatrix Medical Group in the 4th quarter valued at about $13,613,000. CSM Advisors LLC lifted its holdings in shares of Pediatrix Medical Group by 54.7% in the 3rd quarter. CSM Advisors LLC now owns 313,675 shares of the company's stock valued at $5,253,000 after buying an additional 110,877 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of Pediatrix Medical Group by 25.6% in the fourth quarter. Teacher Retirement System of Texas now owns 306,715 shares of the company's stock worth $6,561,000 after buying an additional 62,446 shares during the last quarter. 97.71% of the stock is owned by hedge funds and other 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.

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