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

Shares of Pediatrix Medical Group, Inc. (NYSE:MD) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $17.67 and last traded at $17.24, with a volume of 2055105 shares traded. The stock had previously closed at $14.11.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MD shares. Macquarie started coverage on Pediatrix Medical Group in a report on Monday, December 16th. They issued an “outperform” rating and a $18.00 price objective for the company. StockNews.com raised Pediatrix Medical Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Jefferies Financial Group upped their target price on Pediatrix Medical Group from $14.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Truist Financial reduced their target price on Pediatrix Medical Group from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Pediatrix Medical Group from $9.00 to $15.00 and gave the company a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Pediatrix Medical Group currently has an average rating of “Hold” and an average price target of $16.25.

Hedge Funds Weigh In On Pediatrix Medical Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in shares of Pediatrix Medical Group by 134.0% during the third quarter. CWM LLC now owns 6,427 shares of the company’s stock worth $74,000 after purchasing an additional 3,681 shares during the period. Creative Planning grew its stake in shares of Pediatrix Medical Group by 48.3% during the third quarter. Creative Planning now owns 30,662 shares of the company’s stock worth $355,000 after purchasing an additional 9,991 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Pediatrix Medical Group by 352.4% during the third quarter. Nisa Investment Advisors LLC now owns 21,513 shares of the company’s stock worth $249,000 after purchasing an additional 16,758 shares during the period. Principal Financial Group Inc. grew its stake in shares of Pediatrix Medical Group by 14.1% during the third quarter. Principal Financial Group Inc. now owns 513,618 shares of the company’s stock worth $5,953,000 after purchasing an additional 63,581 shares during the period. Finally, Atria Investments Inc grew its stake in shares of Pediatrix Medical Group by 9.0% during the third quarter. Atria Investments Inc now owns 27,124 shares of the company’s stock worth $314,000 after purchasing an additional 2,238 shares during the period. Institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Trading Up 22.2 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50 day moving average of $13.86 and a 200 day moving average of $12.91. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -5.63, a PEG ratio of 1.44 and a beta of 1.57.

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.