Pediatrix Medical Group (NYSE:MD) Sets New 1-Year High After Analyst Upgrade

Pediatrix Medical Group, Inc. (NYSE:MD)’s stock price reached a new 52-week high on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $24.02 and last traded at $23.9150, with a volume of 293827 shares trading hands. The stock had previously closed at $23.10.

Several other equities analysts have also commented on MD. Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Wednesday, November 19th. Wall Street Zen raised Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 4th. Leerink Partners raised their price target on Pediatrix Medical Group from $14.50 to $17.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. UBS Group lifted their price objective on Pediatrix Medical Group from $16.50 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, Truist Financial increased their target price on Pediatrix Medical Group from $17.00 to $24.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Pediatrix Medical Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling

In related news, Director Laura A. Linynsky sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the director owned 32,232 shares in the company, valued at $697,822.80. This trade represents a 23.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Rucker sold 10,478 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $23.00, for a total value of $240,994.00. Following the transaction, the director directly owned 59,101 shares of the company’s stock, valued at $1,359,323. This represents a 15.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Pediatrix Medical Group

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Pediatrix Medical Group by 30.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,126,207 shares of the company’s stock valued at $69,114,000 after buying an additional 968,553 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Pediatrix Medical Group by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,399,778 shares of the company’s stock valued at $56,942,000 after acquiring an additional 81,554 shares during the period. American Century Companies Inc. grew its stake in shares of Pediatrix Medical Group by 38.9% in the third quarter. American Century Companies Inc. now owns 2,682,976 shares of the company’s stock worth $44,940,000 after acquiring an additional 751,109 shares during the last quarter. Boston Partners increased its position in Pediatrix Medical Group by 1.3% during the first quarter. Boston Partners now owns 1,981,889 shares of the company’s stock worth $27,990,000 after acquiring an additional 25,536 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Pediatrix Medical Group by 55.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,143,306 shares of the company’s stock worth $19,150,000 after acquiring an additional 407,780 shares during the period. Institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Trading Down 0.8%

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’s 50 day moving average is $18.79 and its 200 day moving average is $15.98. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 18.96 and a beta of 1.20.

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

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.