Pediatrix Medical Group (NYSE:MD) Hits New 12-Month High on Analyst Upgrade

Pediatrix Medical Group, Inc. (NYSE:MD) shares hit a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $17.00 to $24.00. Truist Financial currently has a hold rating on the stock. Pediatrix Medical Group traded as high as $22.41 and last traded at $21.9750, with a volume of 177094 shares. The stock had previously closed at $21.93.

Other analysts have also issued research reports about the company. UBS Group increased their target price on Pediatrix Medical Group from $16.50 to $23.00 and gave the company a “neutral” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Pediatrix Medical Group in a report on Wednesday, October 8th. Zacks Research downgraded shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Wall Street Zen raised Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 4th. Finally, Leerink Partners lifted their price objective on Pediatrix Medical Group from $14.50 to $17.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Pediatrix Medical Group has a consensus rating of “Hold” and an average target price of $19.80.

Institutional Investors Weigh In On Pediatrix Medical Group

Large investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. lifted its stake in Pediatrix Medical Group by 20.1% during the third quarter. Hillsdale Investment Management Inc. now owns 452,200 shares of the company’s stock worth $7,574,000 after purchasing an additional 75,700 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Pediatrix Medical Group by 25.8% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,989 shares of the company’s stock valued at $251,000 after purchasing an additional 3,076 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pediatrix Medical Group by 20.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 827,075 shares of the company’s stock worth $13,854,000 after purchasing an additional 140,577 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Pediatrix Medical Group by 4.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,525 shares of the company’s stock valued at $243,000 after purchasing an additional 631 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Pediatrix Medical Group by 42.7% during the third quarter. Public Sector Pension Investment Board now owns 409,678 shares of the company’s stock worth $6,862,000 after buying an additional 122,618 shares during the period. 97.71% of the stock is owned by hedge funds and other institutional investors.

Pediatrix Medical Group Stock Performance

The stock’s fifty day simple moving average is $17.29 and its two-hundred day simple moving average is $15.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 17.49 and a beta of 1.20.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.21. The company had revenue of $492.88 million for the quarter, compared to analysts’ expectations of $476.45 million. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%.The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Equities research analysts anticipate that Pediatrix Medical Group, Inc. will post 1.38 EPS for the current year.

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.