Pediatrix Medical Group (NYSE:MD) Shares Up 4.2% - Here's Why

Key Points

• Pediatrix Medical Group shares rose 4.2% in mid-day trading to approximately $26.75, although trading volume was sharply below average.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a consensus price target of $26.60; recent target increases brought UBS and Truist estimates to $28.
• The company exceeded quarterly expectations, reporting $0.63 EPS versus the $0.59 consensus and 4.1% year-over-year revenue growth to $487.78 million. Institutional investors own 97.71% of the stock.

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report)'s stock price was up 4.2% during mid-day trading on Monday. The company traded as high as $26.82 and last traded at $26.75. Approximately 12,886 shares traded hands during trading, a decline of 98% from the average daily volume of 795,882 shares. The stock had previously closed at $25.66.

Wall Street Analyst Weigh In

MD has been the subject of several research analyst reports. UBS Group increased their price objective on Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Truist Financial boosted their price objective on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Pediatrix Medical Group from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 13th. Weiss Ratings raised shares of Pediatrix Medical Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $25.00 price target on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Pediatrix Medical Group presently has an average rating of "Hold" and a consensus price target of $26.60.

Pediatrix Medical Group Trading Down 1.6%

The stock's fifty day moving average price is $26.39 and its 200 day moving average price is $24.06. The stock has a market cap of $2.10 billion, a P/E ratio of 12.40 and a beta of 0.64. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45.

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

Institutional Trading of Pediatrix Medical Group

A number of hedge funds have recently made changes to their positions in MD. BlackRock Inc. purchased a new position in Pediatrix Medical Group during the second quarter valued at $347,383,000. Dimensional Fund Advisors LP raised its position in shares of Pediatrix Medical Group by 8.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,856,915 shares of the company's stock worth $82,496,000 after purchasing an additional 287,696 shares during the last quarter. Wasatch Advisors LP raised its holdings in Pediatrix Medical Group by 21.9% in the second quarter. Wasatch Advisors LP now owns 2,498,884 shares of the company's stock worth $63,297,000 after buying an additional 448,360 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Pediatrix Medical Group by 12.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,532,300 shares of the company's stock worth $32,776,000 after acquiring an additional 174,600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Pediatrix Medical Group by 52.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 975,133 shares of the company's stock valued at $20,185,000 after buying an additional 335,733 shares during the last quarter. 97.71% of the stock is owned by institutional investors.

About Pediatrix Medical Group

Pediatrix Medical Group, Inc is a physician-led healthcare services company that provides specialized medical care for women, infants and children. The company partners with hospitals and health systems to deliver care through physician practices, neonatal intensive care units and other hospital-based programs.

Its services include neonatology, maternal-fetal medicine, pediatric cardiology, pediatric critical care, pediatric hospital medicine and other pediatric subspecialties. Pediatrix physicians care for patients before, during and after childbirth, as well as children requiring specialized or critical care.

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