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

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $17.67 and last traded at $17.24, with a volume of 2055105 shares trading hands. The stock had previously closed at $14.11.

The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Pediatrix Medical Group had a negative net margin of 4.92% and a positive return on equity of 15.47%. The business had revenue of $502.36 million for the quarter, compared to analysts’ expectations of $486.22 million.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho increased their price objective on shares of Pediatrix Medical Group from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Pediatrix Medical Group from $9.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group increased their price objective on shares of Pediatrix Medical Group from $16.50 to $18.50 and gave the company a “neutral” rating in a research report on Friday. Truist Financial increased their price objective on shares of Pediatrix Medical Group from $15.00 to $18.00 and gave the company a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group raised their price target on shares of Pediatrix Medical Group from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.08.

Institutional Investors Weigh In On Pediatrix Medical Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MD. Pacer Advisors Inc. acquired a new stake in shares of Pediatrix Medical Group during the 4th quarter worth approximately $35,492,000. American Century Companies Inc. boosted its stake in Pediatrix Medical Group by 628.2% during the 4th quarter. American Century Companies Inc. now owns 1,739,323 shares of the company’s stock worth $22,820,000 after purchasing an additional 1,500,485 shares during the last quarter. Oberweis Asset Management Inc. acquired a new stake in Pediatrix Medical Group during the 4th quarter worth $6,122,000. Renaissance Technologies LLC boosted its stake in Pediatrix Medical Group by 117.4% during the 4th quarter. Renaissance Technologies LLC now owns 838,800 shares of the company’s stock worth $11,005,000 after purchasing an additional 453,000 shares during the last quarter. Finally, Boston Partners boosted its stake in Pediatrix Medical Group by 25.2% during the 4th quarter. Boston Partners now owns 1,956,353 shares of the company’s stock worth $25,922,000 after purchasing an additional 393,600 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.42 and a current ratio of 1.60. The firm’s 50 day simple moving average is $13.89 and its 200-day simple moving average is $12.99. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -12.97, a PEG ratio of 1.74 and a beta of 1.57.

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.