Pediatrix Medical Group (NYSE:MD) Reaches New 1-Year High on Analyst Upgrade

Pediatrix Medical Group, Inc. (NYSE:MD) hit a new 52-week high during trading 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 traded. The stock had previously closed at $23.10.

MD has been the topic of several other reports. UBS Group lifted their price target on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Wednesday, November 19th. Leerink Partners upped their price target on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. Truist Financial upped their price target on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Finally, Wall Street Zen upgraded Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 4th. One investment 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 an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Buying and Selling at Pediatrix Medical Group

In other Pediatrix Medical Group news, Director Laura A. Linynsky sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the completion of the sale, the director owned 32,232 shares of the company’s stock, valued at $697,822.80. This trade represents a 23.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. Rucker sold 10,478 shares of the business’s stock in a transaction that occurred on 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 owned 59,101 shares of the company’s stock, valued at $1,359,323. This trade represents a 15.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of institutional investors have recently modified their holdings of the stock. LPL Financial LLC grew its stake in Pediatrix Medical Group by 55.5% in the first quarter. LPL Financial LLC now owns 144,318 shares of the company’s stock worth $2,091,000 after purchasing an additional 51,490 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Pediatrix Medical Group by 82.7% in the 1st quarter. Mackenzie Financial Corp now owns 38,399 shares of the company’s stock worth $556,000 after buying an additional 17,376 shares during the period. XTX Topco Ltd grew its position in shares of Pediatrix Medical Group by 246.5% during the 1st quarter. XTX Topco Ltd now owns 44,752 shares of the company’s stock worth $648,000 after buying an additional 31,835 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Pediatrix Medical Group by 8.1% during the first quarter. Natixis Advisors LLC now owns 19,156 shares of the company’s stock valued at $278,000 after buying an additional 1,435 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Pediatrix Medical Group during the first quarter valued at $159,000. 97.71% of the stock is owned by hedge funds and other institutional investors.

Pediatrix Medical Group Price Performance

The firm has a fifty day moving average of $18.79 and a two-hundred day moving average of $15.98. The stock has a market capitalization of $2.10 billion, a P/E ratio of 18.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.80 and a quick ratio of 1.80.

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