Pediatrix Medical Group (NYSE:MD) Shares Gap Up on Earnings Beat

Shares of Pediatrix Medical Group, Inc. (NYSE:MD) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $14.11, but opened at $14.80. Pediatrix Medical Group shares last traded at $16.59, with a volume of 193,091 shares trading hands.

The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. Pediatrix Medical Group had a negative net margin of 12.65% and a positive return on equity of 12.79%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MD. Mizuho boosted their price target on shares of Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial decreased their price target on shares of Pediatrix Medical Group from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Pediatrix Medical Group from $9.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Macquarie began coverage on shares of Pediatrix Medical Group in a research note on Monday, December 16th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on shares of Pediatrix Medical Group from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Pediatrix Medical Group currently has a consensus rating of “Hold” and a consensus price target of $16.25.

Institutional Trading of Pediatrix Medical Group

Hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its position in shares of Pediatrix Medical Group by 95.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,500 shares of the company’s stock valued at $33,000 after buying an additional 1,220 shares in the last quarter. Quest Partners LLC grew its holdings in Pediatrix Medical Group by 25.6% during the 3rd quarter. Quest Partners LLC now owns 3,054 shares of the company’s stock valued at $35,000 after purchasing an additional 622 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Pediatrix Medical Group by 36.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,919 shares of the company’s stock valued at $51,000 after purchasing an additional 1,040 shares during the last quarter. Quarry LP grew its holdings in Pediatrix Medical Group by 54.1% during the 3rd quarter. Quarry LP now owns 4,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,662 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Pediatrix Medical Group by 65.9% during the 4th quarter. AlphaQuest LLC now owns 5,066 shares of the company’s stock valued at $66,000 after purchasing an additional 2,012 shares during the last quarter. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Pediatrix Medical Group Price Performance

The company has a market capitalization of $1.48 billion, a P/E ratio of -5.63, a P/E/G ratio of 1.44 and a beta of 1.57. The firm’s fifty day moving average is $13.86 and its 200 day moving average is $12.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.42 and a current ratio of 1.42.

About Pediatrix Medical Group

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.