Pediatrix Medical Group (NYSE:MD) Stock Price Up 7.1% on Analyst Upgrade

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price traded up 7.1% on Wednesday after Truist Financial raised their price target on the stock from $23.00 to $28.00. Truist Financial currently has a hold rating on the stock. Pediatrix Medical Group traded as high as $25.26 and last traded at $25.8260. 177,002 shares were traded during trading, a decline of 78% from the average daily volume of 800,942 shares. The stock had previously closed at $24.11.

Other equities analysts also recently issued research reports about the company. Mizuho set a $24.00 price target on Pediatrix Medical Group in a research report on Friday, May 8th. UBS Group lifted their target price on Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Jefferies Financial Group reissued a “buy” rating and set a $27.00 target price on shares of Pediatrix Medical Group in a report on Monday, April 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.33.

Insider Buying and Selling

In other Pediatrix Medical Group news, Director Shirley A. Weis sold 36,028 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Pediatrix Medical Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Keybank National Association OH grew its holdings in Pediatrix Medical Group by 2.0% during the 1st quarter. Keybank National Association OH now owns 22,941 shares of the company’s stock worth $491,000 after acquiring an additional 458 shares during the last quarter. Gotham Asset Management LLC increased its position in 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 acquiring an additional 724 shares during the period. ProShare Advisors LLC raised its stake in shares of Pediatrix Medical Group by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 16,816 shares of the company’s stock valued at $360,000 after acquiring an additional 734 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of Pediatrix Medical Group by 4.4% during the third quarter. Verition Fund Management LLC now owns 25,408 shares of the company’s stock worth $426,000 after purchasing an additional 1,066 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Pediatrix Medical Group by 77.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,515 shares of the company’s stock worth $54,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds own 97.71% of the company’s stock.

Pediatrix Medical Group Trading Up 6.7%

The company has a market cap of $2.11 billion, a P/E ratio of 12.52 and a beta of 0.66. The firm’s 50 day moving average is $23.72 and its two-hundred day moving average is $22.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45.

Pediatrix Medical Group (NYSE:MD) last announced its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. The business had revenue of $476.20 million during the quarter, compared to analyst estimates of $465.83 million. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.Pediatrix Medical Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. As a group, equities research analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current year.

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.