Truist Financial Forecasts Strong Price Appreciation for Pediatrix Medical Group (NYSE:MD) Stock

Key Points

• Truist Financial raised its price target on Pediatrix Medical Group (NYSE:MD) from $23 to $28, while keeping a hold rating. The new target implies about 12.4% upside from the current price.
• The stock has drawn mixed analyst views overall, with one Buy and five Hold ratings; MarketBeat reports a consensus Hold and an average price target of $23.33.
• Pediatrix recently reported better-than-expected quarterly results, posting $0.44 EPS versus the $0.37 estimate and revenue of $476.2 million, up 3.9% year over year.

Pediatrix Medical Group (NYSE:MD - Get Free Report) had its target price raised by research analysts at Truist Financial from $23.00 to $28.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective would indicate a potential upside of 12.38% from the stock's current price.

MD has been the topic of several other reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. UBS Group raised their target price on 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 price target on Pediatrix Medical Group in a report on Friday, May 8th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $23.33.

Pediatrix Medical Group Stock Down 4.7%

MD stock opened at $24.91 on Tuesday. Pediatrix Medical Group has a twelve month low of $11.84 and a twelve month high of $27.94. The company has a market cap of $2.05 billion, a PE ratio of 12.12 and a beta of 0.66. The business's 50-day simple moving average is $23.66 and its 200 day simple moving average is $22.08. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. The company had revenue of $476.20 million during the quarter, compared to the consensus estimate of $465.83 million. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. On average, research analysts anticipate that Pediatrix Medical Group will post 2.1 earnings per share for the current year.

Insider Activity

In related news, Director Shirley A. Weis sold 36,028 shares of the firm'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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Pediatrix Medical Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its holdings in Pediatrix Medical Group by 68,250.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,367 shares of the company's stock worth $29,000 after purchasing an additional 1,365 shares during the last quarter. Transamerica Financial Advisors LLC bought a new stake in Pediatrix Medical Group during the fourth quarter worth $30,000. Eurizon Capital SGR S.p.A. purchased a new stake in Pediatrix Medical Group in the 4th quarter valued at $33,000. Blue Trust Inc. bought a new position in Pediatrix Medical Group during the 4th quarter valued at $37,000. Finally, TD Private Client Wealth LLC purchased a new position in Pediatrix Medical Group during the 4th quarter worth $39,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

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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