Pediatrix Medical Group (NYSE:MD) Sets New 1-Year High on Better-Than-Expected Earnings

Pediatrix Medical Group, Inc. (NYSE:MD) shares reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $15.55 and last traded at $15.55, with a volume of 4063 shares changing hands. The stock had previously closed at $15.21.

The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Pediatrix Medical Group had a positive return on equity of 10.59% and a negative net margin of 12.58%. The company had revenue of $511.20 million for the quarter, compared to analyst estimates of $498.87 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year.

Analysts Set New Price Targets

Several research analysts recently weighed in on MD shares. Deutsche Bank Aktiengesellschaft increased their price objective on Pediatrix Medical Group from $9.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday. UBS Group raised their target price on shares of Pediatrix Medical Group from $9.00 to $10.50 and gave the company a “neutral” rating in a report on Friday, August 9th. Mizuho lifted their price target on Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group upgraded Pediatrix Medical Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $8.00 to $14.00 in a report on Thursday, September 26th. Finally, StockNews.com upgraded Pediatrix Medical Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Pediatrix Medical Group has an average rating of “Hold” and a consensus price target of $14.10.

Insiders Place Their Bets

In other Pediatrix Medical Group news, CEO James D. Swift sold 11,100 shares of Pediatrix Medical Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $10.79, for a total transaction of $119,769.00. Following the transaction, the chief executive officer now owns 170,001 shares of the company’s stock, valued at $1,834,310.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pediatrix Medical Group news, CEO James D. Swift sold 11,100 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $10.79, for a total transaction of $119,769.00. Following the transaction, the chief executive officer now directly owns 170,001 shares of the company’s stock, valued at approximately $1,834,310.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO C Marc Richards sold 17,438 shares of Pediatrix Medical Group stock in a transaction on Monday, August 12th. The shares were sold at an average price of $10.08, for a total transaction of $175,775.04. Following the completion of the transaction, the chief financial officer now owns 175,347 shares in the company, valued at approximately $1,767,497.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,100 shares of company stock valued at $701,889. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Pediatrix Medical Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Pediatrix Medical Group by 1.6% during the first quarter. Vanguard Group Inc. now owns 10,557,572 shares of the company’s stock worth $105,892,000 after buying an additional 164,333 shares in the last quarter. Rubric Capital Management LP grew its holdings in Pediatrix Medical Group by 797.0% in the 2nd quarter. Rubric Capital Management LP now owns 8,150,000 shares of the company’s stock valued at $61,532,000 after buying an additional 7,241,400 shares during the period. Boston Partners increased its position in Pediatrix Medical Group by 34.0% during the first quarter. Boston Partners now owns 1,786,434 shares of the company’s stock worth $17,702,000 after purchasing an additional 453,254 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in Pediatrix Medical Group by 80.3% in the second quarter. Dana Investment Advisors Inc. now owns 1,023,136 shares of the company’s stock valued at $7,725,000 after acquiring an additional 455,785 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its stake in shares of Pediatrix Medical Group by 12.8% in the 2nd quarter. Brandes Investment Partners LP now owns 735,068 shares of the company’s stock valued at $5,438,000 after purchasing an additional 83,588 shares in the last quarter. 97.71% of the stock is owned by institutional investors and hedge funds.

Pediatrix Medical Group Trading Down 0.5 %

The firm’s 50 day simple moving average is $11.62 and its 200-day simple moving average is $9.41. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.30 billion, a PE ratio of -4.82, a P/E/G ratio of 1.91 and a beta of 1.55.

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.