Pediatrix Medical Group (NYSE:MD) Trading Up 8.9% on Earnings Beat

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)'s stock price traded up 8.9% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $13.96 and last traded at $14.07. 646,193 shares traded hands during trading, a decline of 12% from the average session volume of 733,539 shares. The stock had previously closed at $12.92.

The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%. The firm had revenue of $468.84 million for the quarter, compared to the consensus estimate of $464.37 million. During the same period in the prior year, the business posted $0.34 earnings per share. The firm's revenue for the quarter was down 7.1% compared to the same quarter last year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Macquarie upped their price target on Pediatrix Medical Group from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. UBS Group dropped their price target 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Pediatrix Medical Group currently has an average rating of "Hold" and a consensus target price of $16.67.

Institutional Investors Weigh In On Pediatrix Medical Group

Large investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in Pediatrix Medical Group during the 4th quarter valued at approximately $169,000. Principal Financial Group Inc. lifted its holdings in Pediatrix Medical Group by 6.2% during the 1st quarter. Principal Financial Group Inc. now owns 586,190 shares of the company's stock worth $8,494,000 after buying an additional 34,266 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Pediatrix Medical Group by 219.5% in the 1st quarter. GAMMA Investing LLC now owns 2,569 shares of the company's stock valued at $37,000 after acquiring an additional 1,765 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Pediatrix Medical Group by 194.0% in the 1st quarter. SG Americas Securities LLC now owns 38,405 shares of the company's stock valued at $556,000 after acquiring an additional 25,343 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Pediatrix Medical Group by 53.1% in the 4th quarter. Deutsche Bank AG now owns 74,023 shares of the company's stock valued at $971,000 after acquiring an additional 25,663 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company's stock.

Pediatrix Medical Group Stock Down 1.1%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market capitalization of $1.25 billion, a P/E ratio of 11.10 and a beta of 1.21. The stock has a fifty day moving average price of $13.41 and a two-hundred day moving average price of $13.82.

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.