Pediatrix Medical Group (NYSE:MD) Sets New 12-Month High - Time to Buy?

Key Points

• Pediatrix Medical Group shares reached a new 52-week high of $28.67 and were last trading at $28.58, up 5.1% from the prior close.
• Analyst sentiment remains cautious: one analyst rates the stock a Buy and five rate it Hold, producing a consensus Hold rating and a $26.60 price target—below the current share price.
• The company exceeded quarterly expectations, reporting $0.63 in EPS versus $0.59 forecast and $487.78 million in revenue, up 4.1% year over year; institutional investors own 97.71% of the shares.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report) reached a new 52-week high during trading on Thursday. The stock traded as high as $28.67 and last traded at $28.58, with a volume of 43,353 shares trading hands. The stock had previously closed at $28.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Pediatrix Medical Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, September 9th. Truist Financial raised their price target on Pediatrix Medical Group from $23.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $25.00 price objective on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. Jefferies Financial Group downgraded shares of Pediatrix Medical Group from a "buy" rating to a "hold" rating and upped their target price for the company from $27.00 to $28.00 in a research report on Wednesday, August 19th. Finally, UBS Group raised their target price on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.60.

Pediatrix Medical Group Trading Up 5.1%

The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.13 and a beta of 0.61. The business has a 50 day moving average of $26.55 and a 200 day moving average of $24.86. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 1.32.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The company had revenue of $487.78 million during the quarter, compared to analysts' expectations of $478.49 million. Pediatrix Medical Group had a return on equity of 20.05% and a net margin of 8.96%. Pediatrix Medical Group's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. As a group, research analysts predict that Pediatrix Medical Group, Inc. will post 2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pediatrix Medical Group

Institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new position in shares of Pediatrix Medical Group in the second quarter valued at approximately $33,000. Nykredit A S bought a new stake in Pediatrix Medical Group during the second quarter worth about $35,000. Integrated Wealth Concepts LLC acquired a new position in Pediatrix Medical Group during the second quarter valued at approximately $53,000. EverSource Wealth Advisors LLC boosted its position in Pediatrix Medical Group by 77.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,515 shares of the company's stock valued at $54,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake in Pediatrix Medical Group by 2,239.3% in the third quarter. Fortitude Family Office LLC now owns 2,082 shares of the company's stock valued at $54,000 after purchasing an additional 1,993 shares in the last quarter. Institutional investors own 97.71% of the company's stock.

Pediatrix Medical Group Company Profile

Pediatrix Medical Group, Inc provides specialized physician-led healthcare services for women, infants and children. The company's clinical offerings include neonatal and perinatal care, maternal-fetal medicine, pediatric medical subspecialties, pediatric hospitalist services and related services delivered in partnership with hospitals and healthcare systems.

Pediatrix-affiliated physicians and advanced practice providers generally work in hospital-based settings, including neonatal intensive care units, delivery rooms, pediatric units and outpatient practices.

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