Pediatrix Medical Group (NYSE:MD) Stock Price Up 7.1% Following Analyst Upgrade

Key Points

• Pediatrix Medical Group shares rose 7.1% after Truist Financial raised its price target from $23 to $28, though it kept a hold rating. The stock traded as high as $25.26 during the session.
• Other analysts remain mixed on the company, with most ratings at Hold and an average price target of $23.33. Recent calls from UBS, Mizuho, Jefferies, and Weiss Ratings reflect cautious sentiment overall.
• The company’s latest quarterly results beat expectations, posting $0.44 EPS on revenue of $476.2 million, both above analyst estimates. Revenue also rose 3.9% year over year.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report)'s stock price rose 7.1% on Wednesday after Truist Financial raised their price target on the stock from $23.00 to $28.00. Truist Financial currently has a hold rating on the stock. Pediatrix Medical Group traded as high as $25.26 and last traded at $25.8260. 177,002 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 800,942 shares. The stock had previously closed at $24.11.

Other equities research analysts have also issued research reports about the stock. UBS Group increased their price objective on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the stock 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 report on Friday, May 8th. Jefferies Financial Group reissued a "buy" rating and set a $27.00 price target on shares of Pediatrix Medical Group in a research note on Monday, April 20th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $23.33.

Insider Activity

In other news, Director Shirley A. Weis sold 36,028 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total value of $855,665.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

Institutional Trading of Pediatrix Medical Group

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of Pediatrix Medical Group by 8.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,856,915 shares of the company's stock worth $82,496,000 after acquiring an additional 287,696 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Pediatrix Medical Group by 21.9% in the 2nd quarter. Wasatch Advisors LP now owns 2,498,884 shares of the company's stock valued at $63,297,000 after acquiring an additional 448,360 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Pediatrix Medical Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,181,712 shares of the company's stock valued at $46,674,000 after acquiring an additional 14,421 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Pediatrix Medical Group by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,552,585 shares of the company's stock worth $33,210,000 after acquiring an additional 105,345 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Pediatrix Medical Group by 12.9% during the first quarter. Renaissance Technologies LLC now owns 1,532,300 shares of the company's stock valued at $32,776,000 after purchasing an additional 174,600 shares during the last quarter. 97.71% of the stock is owned by institutional investors.

Pediatrix Medical Group Stock Up 6.7%

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 firm has a 50-day moving average of $23.72 and a 200 day moving average of $22.10. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.52 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 analysts' consensus estimates 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 company had revenue of $476.20 million for the quarter, compared to analysts' expectations of $465.83 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business's revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current fiscal year.

About Pediatrix Medical Group

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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