Pediatrix Medical Group (NYSE:MD) Price Target Raised to $28.00

Pediatrix Medical Group (NYSE:MD) had its price target boosted by investment analysts at Truist Financial from $23.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 12.38% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Wednesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $27.00 price target on shares of Pediatrix Medical Group in a research report on Monday, April 20th. Mizuho set a $24.00 price target on Pediatrix Medical Group in a research note on Friday, May 8th. Finally, UBS Group lifted their price objective on Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.33.

Pediatrix Medical Group Trading Down 4.7%

NYSE MD opened at $24.91 on Tuesday. The business’s fifty day moving average is $23.66 and its 200-day moving average is $22.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 12.12 and a beta of 0.66. Pediatrix Medical Group has a one year low of $11.84 and a one year high of $27.94.

Pediatrix Medical Group (NYSE:MD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $476.20 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. Equities research analysts predict that Pediatrix Medical Group will post 2.1 EPS for the current year.

Insider Buying and Selling at Pediatrix Medical Group

In related news, Director Shirley A. Weis sold 36,028 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total transaction of $855,665.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Pediatrix Medical Group by 23.8% during the 1st quarter. Royal Bank of Canada now owns 22,097 shares of the company’s stock valued at $320,000 after purchasing an additional 4,247 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Pediatrix Medical Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company’s stock worth $743,000 after buying an additional 2,251 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Pediatrix Medical Group by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,506 shares of the company’s stock worth $3,891,000 after buying an additional 12,171 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Pediatrix Medical Group in the 2nd quarter worth $145,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Pediatrix Medical Group during the 2nd quarter valued at $99,000. 97.71% of the stock is currently owned by institutional investors.

Pediatrix Medical Group Company Profile

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.