Pediatrix Medical Group (NYSE:MD) Reaches New 12-Month High Following Strong Earnings

Pediatrix Medical Group, Inc. (NYSE:MD) hit a new 52-week high on Monday after the company announced better than expected quarterly earnings. The company traded as high as $19.87 and last traded at $19.5120, with a volume of 46091 shares. The stock had previously closed at $16.97.

The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.46 by $0.21. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%.The business had revenue of $492.88 million during the quarter, compared to analyst estimates of $476.45 million. During the same period last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MD. Wall Street Zen upgraded Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 4th. Zacks Research lowered Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. UBS Group lifted their target price on Pediatrix Medical Group from $16.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, August 14th. Leerink Partners lifted their target price on Pediatrix Medical Group from $14.50 to $17.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pediatrix Medical Group in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.93.

Institutional Trading of Pediatrix Medical Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaQuest LLC increased its position in shares of Pediatrix Medical Group by 16.0% during the first quarter. AlphaQuest LLC now owns 5,877 shares of the company’s stock worth $85,000 after purchasing an additional 811 shares in the last quarter. Amalgamated Bank increased its position in shares of Pediatrix Medical Group by 3.5% during the third quarter. Amalgamated Bank now owns 24,891 shares of the company’s stock worth $417,000 after purchasing an additional 831 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Pediatrix Medical Group by 8.7% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,913 shares of the company’s stock worth $171,000 after purchasing an additional 950 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Pediatrix Medical Group by 1.7% during the second quarter. New York State Common Retirement Fund now owns 62,245 shares of the company’s stock worth $893,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Pediatrix Medical Group by 10.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,977 shares of the company’s stock worth $201,000 after purchasing an additional 1,092 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

Pediatrix Medical Group Price Performance

The stock has a 50-day moving average price of $16.84 and a 200 day moving average price of $14.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 15.41 and a beta of 1.26.

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.