Pediatrix Medical Group (NYSE:MD) Shares Gap Up After Earnings Beat

Pediatrix Medical Group, Inc. (NYSE:MD)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $14.11, but opened at $14.80. Pediatrix Medical Group shares last traded at $16.59, with a volume of 193,091 shares trading hands.

The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. Pediatrix Medical Group had a negative net margin of 12.65% and a positive return on equity of 12.79%.

Analyst Ratings Changes

A number of brokerages have commented on MD. Truist Financial reduced their target price on Pediatrix Medical Group from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, January 6th. UBS Group increased their price objective on Pediatrix Medical Group from $10.50 to $16.50 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Mizuho lifted their target price on shares of Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their target price 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. Finally, Jefferies Financial Group boosted 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.25.

Institutional Trading of 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 Pediatrix Medical Group during the fourth quarter worth $35,492,000. American Century Companies Inc. lifted its stake in shares of Pediatrix Medical Group by 628.2% in the 4th quarter. American Century Companies Inc. now owns 1,739,323 shares of the company’s stock valued at $22,820,000 after purchasing an additional 1,500,485 shares during the last quarter. Oberweis Asset Management Inc. purchased a new position in shares of Pediatrix Medical Group during the 4th quarter worth $6,122,000. Renaissance Technologies LLC increased its position in shares of 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 raised its holdings in Pediatrix Medical Group by 25.2% in the 4th quarter. Boston Partners now owns 1,956,353 shares of the company’s stock valued at $25,922,000 after buying an additional 393,600 shares during the period. Institutional investors and hedge funds own 97.71% of the company’s stock.

Pediatrix Medical Group Trading Up 19.1 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $1.44 billion, a PE ratio of -5.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.57. The company’s 50 day simple moving average is $13.80 and its two-hundred day simple moving average is $12.88.

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.