Pediatrix Medical Group (NYSE:MD) Trading Down 5.1% – Here’s What Happened

Shares of Pediatrix Medical Group, Inc. (NYSE:MD) were down 5.1% on Tuesday . The stock traded as low as $24.44 and last traded at $24.7960. 222,207 shares were traded during trading, a decline of 72% from the average daily volume of 797,997 shares. The stock had previously closed at $26.14.

Analyst Upgrades and Downgrades

MD has been the topic of several recent research reports. Truist Financial upped their price objective on Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a research note on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and set a $27.00 price target on shares of Pediatrix Medical Group in a report on Monday, April 20th. Finally, UBS Group raised their price target on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Pediatrix Medical Group has a consensus rating of “Hold” and a consensus price target of $23.33.

Pediatrix Medical Group Stock Down 5.5%

The company has a market cap of $2.03 billion, a PE ratio of 12.00 and a beta of 0.66. The business has a 50-day simple moving average of $23.66 and a 200-day simple moving average of $22.08. 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $476.20 million for 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 quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. Equities research analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current year.

Insider Activity

In related news, Director Shirley A. Weis sold 36,028 shares of Pediatrix Medical Group stock in a transaction on 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 at this link. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of large investors have recently added to or reduced their stakes in the stock. Keybank National Association OH lifted its holdings in Pediatrix Medical Group by 2.0% during the first quarter. Keybank National Association OH now owns 22,941 shares of the company’s stock valued at $491,000 after purchasing an additional 458 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of Pediatrix Medical Group by 0.6% during the third quarter. Gotham Asset Management LLC now owns 116,093 shares of the company’s stock worth $1,945,000 after purchasing an additional 724 shares in the last quarter. ProShare Advisors LLC increased 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 worth $360,000 after purchasing an additional 734 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Pediatrix Medical Group by 4.4% during the 3rd 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 last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Pediatrix Medical Group by 77.7% during the 1st 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 last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

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.