Pediatrix Medical Group (NYSE:MD) Shares Gap Down – Here’s What Happened

Pediatrix Medical Group, Inc. (NYSE:MD) gapped down prior to trading on Tuesday . The stock had previously closed at $26.25, but opened at $23.56. Pediatrix Medical Group shares last traded at $26.4880, with a volume of 346,917 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Pediatrix Medical Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $25.00 price target on shares of Pediatrix Medical Group in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a research report on Monday, April 20th. UBS Group lifted their target price on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Finally, Truist Financial upped their price target on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.33.

Pediatrix Medical Group Trading Up 5.5%

The company has a quick ratio of 1.33, a current ratio of 2.19 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.14 billion, a PE ratio of 12.47 and a beta of 0.66. The stock has a 50-day moving average of $24.85 and a 200 day moving average of $22.56.

Pediatrix Medical Group (NYSE:MD) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. The business had revenue of $487.78 million for the quarter, compared to the consensus estimate of $478.49 million. During the same period in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current year.

Insider Activity

In other news, Director Shirley A. Weis sold 36,028 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total value of $855,665.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MD. Dimensional Fund Advisors LP increased its holdings in shares of Pediatrix Medical Group by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,856,915 shares of the company’s stock valued at $82,496,000 after purchasing an additional 287,696 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Pediatrix Medical Group by 21.9% during the second quarter. Wasatch Advisors LP now owns 2,498,884 shares of the company’s stock worth $63,297,000 after buying an additional 448,360 shares in the last quarter. Geode Capital Management LLC grew its position in Pediatrix Medical Group by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,181,712 shares of the company’s stock valued at $46,674,000 after buying an additional 14,421 shares during the period. Charles Schwab Investment Management Inc. grew its position in Pediatrix Medical Group by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,552,585 shares of the company’s stock valued at $33,210,000 after buying an additional 105,345 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Pediatrix Medical Group by 12.9% in the first quarter. Renaissance Technologies LLC now owns 1,532,300 shares of the company’s stock valued at $32,776,000 after buying an additional 174,600 shares in the last quarter. 97.71% of the stock is owned by institutional investors and hedge funds.

About Pediatrix Medical Group

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.