Pediatrix Medical Group (NYSE:MD) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Pediatrix Medical Group (NYSE:MD) issued its quarterly earnings data on Tuesday. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04, FiscalAI reports. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. During the same period last year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis.

Pediatrix Medical Group Price Performance

Shares of NYSE MD opened at $26.24 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $24.70 and its 200 day moving average price is $22.52. Pediatrix Medical Group has a 52 week low of $11.90 and a 52 week high of $27.94. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 12.74 and a beta of 0.66.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho set a $24.00 price target on Pediatrix Medical Group in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. Jefferies Financial Group reissued a “buy” rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a report on Monday, April 20th. UBS Group boosted their target price on Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Finally, Truist Financial lifted their price target on Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. One 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.com, Pediatrix Medical Group presently has a consensus rating of “Hold” and an average target price of $23.33.

Insider Transactions at Pediatrix Medical Group

In other Pediatrix Medical Group news, Director Shirley A. Weis sold 36,028 shares of Pediatrix Medical Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total transaction of $855,665.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MD. Gotham Asset Management LLC boosted its holdings in shares of Pediatrix Medical Group by 0.6% in the 3rd quarter. Gotham Asset Management LLC now owns 116,093 shares of the company’s stock valued at $1,945,000 after purchasing an additional 724 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Pediatrix Medical Group by 4.4% during the 3rd quarter. Verition Fund Management LLC now owns 25,408 shares of the company’s stock worth $426,000 after buying an additional 1,066 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Pediatrix Medical Group by 5.5% during the 2nd quarter. EP Wealth Advisors LLC now owns 22,579 shares of the company’s stock worth $324,000 after buying an additional 1,180 shares during the last quarter. State of Tennessee Department of Treasury raised its position in shares of Pediatrix Medical Group by 2.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 46,016 shares of the company’s stock worth $984,000 after buying an additional 1,246 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Pediatrix Medical Group by 68,250.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,367 shares of the company’s stock worth $29,000 after buying an additional 1,365 shares during the period. 97.71% of the stock is owned by hedge funds and other 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.