Pediatrix Medical Group (NYSE:MD) Hits New 52-Week High – What’s Next?

Pediatrix Medical Group, Inc. (NYSE:MD) shares hit a new 52-week high on Tuesday . The company traded as high as $24.99 and last traded at $25.0960, with a volume of 132398 shares changing hands. The stock had previously closed at $24.69.

Wall Street Analysts Forecast Growth

MD has been the topic of a number of analyst reports. UBS Group raised their price target on Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a report on Monday, April 20th. Mizuho set a $24.00 target price on Pediatrix Medical Group in a research note on Friday, May 8th. Truist Financial upped their price target on Pediatrix Medical Group from $21.00 to $23.00 and gave the company a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.50.

Pediatrix Medical Group Trading Up 1.6%

The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.06 billion, a PE ratio of 12.19 and a beta of 0.69. The business’s 50-day moving average is $22.94 and its two-hundred day moving average is $21.77.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data 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. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.The company had revenue of $476.20 million for the quarter, compared to analyst estimates of $465.83 million. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current fiscal year.

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 that occurred on Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total transaction of $855,665.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC increased its holdings 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 valued at $29,000 after acquiring an additional 1,365 shares during the period. Transamerica Financial Advisors LLC acquired a new position in Pediatrix Medical Group in the fourth quarter valued at $30,000. Eurizon Capital SGR S.p.A. acquired a new position in Pediatrix Medical Group in the fourth quarter valued at $33,000. Blue Trust Inc. purchased a new stake in shares of Pediatrix Medical Group in the fourth quarter valued at about $37,000. Finally, TD Private Client Wealth LLC purchased a new stake in shares of Pediatrix Medical Group in the fourth quarter valued at about $39,000. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

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.