Pediatrix Medical Group (NYSE:MD) Trading 8.9% Higher - What's Next?

Key Points

• Pediatrix Medical Group's shares increased by 8.9% to $14.07 during trading, despite a 12% decline in trading volume compared to its average.
• Recent research reports have led to a downgrade in price targets by UBS Group and Truist Financial, while Macquarie has raised its target, resulting in a consensus rating of "Hold" for the stock.
• The company's latest quarterly earnings showed a 7.4% year-over-year decline in revenue, but it beat EPS estimates with $0.33 reported, surpassing the consensus of $0.25.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report) shares were up 8.9% during trading on Wednesday . The company traded as high as $13.96 and last traded at $14.07. Approximately 646,193 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 733,539 shares. The stock had previously closed at $12.92.

Wall Street Analyst Weigh In

MD has been the subject of a number of recent research reports. UBS Group lowered their price objective 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. Truist Financial lowered their price target on Pediatrix Medical Group from $18.00 to $16.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, Macquarie upped their price target on Pediatrix Medical Group from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $16.67.

Pediatrix Medical Group Stock Up 12.2%

The company has a fifty day simple moving average of $13.39 and a 200-day simple moving average of $13.82. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.25 billion, a P/E ratio of -14.36 and a beta of 1.21.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. Pediatrix Medical Group had a positive return on equity of 17.43% and a negative net margin of 4.17%. The business had revenue of $458.36 million during the quarter, compared to analyst estimates of $451.44 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Pediatrix Medical Group's revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities analysts anticipate that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current year.

Institutional Trading of Pediatrix Medical Group

Hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Pediatrix Medical Group in the first quarter valued at about $8,024,000. Oberweis Asset Management Inc. purchased a new stake in shares of Pediatrix Medical Group in the fourth quarter worth about $6,122,000. Renaissance Technologies LLC lifted its position in shares of Pediatrix Medical Group by 117.4% in the fourth quarter. Renaissance Technologies LLC now owns 838,800 shares of the company's stock worth $11,005,000 after buying an additional 453,000 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Pediatrix Medical Group in the fourth quarter worth about $3,882,000. Finally, Nuveen Asset Management LLC lifted its position in shares of Pediatrix Medical Group by 110.8% in the fourth quarter. Nuveen Asset Management LLC now owns 485,587 shares of the company's stock worth $6,371,000 after buying an additional 255,273 shares in the last quarter. Institutional investors own 97.71% of the company's stock.

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.

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