Pediatrix Medical Group (NYSE:MD) Reaches New 12-Month High – What’s Next?

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price hit a new 52-week high on Monday . The stock traded as high as $26.88 and last traded at $26.9450, with a volume of 780722 shares. The stock had previously closed at $26.76.

Wall Street Analysts Forecast Growth

MD has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a research report on Monday, April 20th. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a research report on Friday, May 8th. Finally, Truist Financial lifted their target price on Pediatrix Medical Group from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.50.

Pediatrix Medical Group Price Performance

The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 13.19 and a beta of 0.66. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average is $23.19 and its two-hundred day moving average is $21.88.

Pediatrix Medical Group (NYSE:MD) last released its earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The firm 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 business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. Equities research analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pediatrix Medical Group news, Director Shirley A. Weis sold 36,028 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total value of $855,665.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Pediatrix Medical Group

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in Pediatrix Medical Group by 23.8% in the first quarter. Royal Bank of Canada now owns 22,097 shares of the company’s stock valued at $320,000 after acquiring an additional 4,247 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Pediatrix Medical Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company’s stock worth $743,000 after purchasing an additional 2,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Pediatrix Medical Group by 4.7% during the first 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 purchasing an additional 12,171 shares during the period. Cetera Investment Advisers bought a new position in shares of Pediatrix Medical Group during the 2nd quarter valued at about $145,000. Finally, Quantbot Technologies LP bought a new position in shares of Pediatrix Medical Group during the 2nd quarter valued at about $99,000. Institutional investors and hedge funds own 97.71% of the company’s stock.

About Pediatrix Medical Group

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.