Pediatrix Medical Group (NYSE:MD) Sets New 12-Month High – What’s Next?

20 Oct 2024, 05:55 by Scott Moore · The Cerbat Gem

Shares of Pediatrix Medical Group, Inc. (NYSE:MD – Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $12.99 and last traded at $12.91, with a volume of 352342 shares changing hands. The stock had previously closed at $12.67.

Analyst Ratings Changes

MD has been the subject of a number of analyst reports. StockNews.com raised shares of Pediatrix Medical Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group upgraded shares of Pediatrix Medical Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $8.00 to $14.00 in a research note on Thursday, September 26th. UBS Group upped their price objective on Pediatrix Medical Group from $9.00 to $10.50 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Truist Financial raised their target price on Pediatrix Medical Group from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Pediatrix Medical Group currently has a consensus rating of “Hold” and a consensus target price of $10.90.

Read Our Latest Analysis on Pediatrix Medical Group

Pediatrix Medical Group Price Performance

The stock has a market capitalization of $1.07 billion, a P/E ratio of -15.01, a PEG ratio of 1.91 and a beta of 1.56. The company’s 50 day simple moving average is $11.15 and its two-hundred day simple moving average is $9.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.38 and a quick ratio of 1.38.

Pediatrix Medical Group (NYSE:MD – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Pediatrix Medical Group had a positive return on equity of 10.59% and a negative net margin of 12.58%. The business had revenue of $504.30 million for the quarter, compared to analyst estimates of $505.49 million. During the same period in the prior year, the company earned $0.37 EPS. Pediatrix Medical Group’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts expect that Pediatrix Medical Group, Inc. will post 1.19 EPS for the current fiscal year.

Insider Activity

In related news, CFO C Marc Richards sold 32,562 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $10.08, for a total transaction of $328,224.96. Following the transaction, the chief financial officer now owns 192,785 shares in the company, valued at $1,943,272.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pediatrix Medical Group news, CEO James D. Swift sold 11,100 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $10.79, for a total value of $119,769.00. Following the transaction, the chief executive officer now directly owns 170,001 shares in the company, valued at approximately $1,834,310.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO C Marc Richards sold 32,562 shares of Pediatrix Medical Group stock in a transaction on Friday, August 9th. The shares were sold at an average price of $10.08, for a total value of $328,224.96. Following the completion of the sale, the chief financial officer now directly owns 192,785 shares of the company’s stock, valued at $1,943,272.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,100 shares of company stock worth $701,889. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pediatrix Medical Group

Several hedge funds have recently added to or reduced their stakes in MD. Vanguard Group Inc. raised its holdings in Pediatrix Medical Group by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 10,557,572 shares of the company’s stock worth $105,892,000 after purchasing an additional 164,333 shares during the last quarter. Rubric Capital Management LP raised its stake in shares of Pediatrix Medical Group by 797.0% during the second quarter. Rubric Capital Management LP now owns 8,150,000 shares of the company’s stock worth $61,532,000 after buying an additional 7,241,400 shares during the last quarter. Boston Partners lifted its holdings in Pediatrix Medical Group by 34.0% in the first quarter. Boston Partners now owns 1,786,434 shares of the company’s stock valued at $17,702,000 after buying an additional 453,254 shares during the period. Dana Investment Advisors Inc. boosted its stake in Pediatrix Medical Group by 80.3% in the second quarter. Dana Investment Advisors Inc. now owns 1,023,136 shares of the company’s stock valued at $7,725,000 after acquiring an additional 455,785 shares during the last quarter. Finally, Brandes Investment Partners LP grew its holdings in Pediatrix Medical Group by 12.8% during the 2nd quarter. Brandes Investment Partners LP now owns 735,068 shares of the company’s stock worth $5,438,000 after acquiring an additional 83,588 shares during the period. Institutional investors own 97.71% of the company’s stock.

About Pediatrix Medical Group

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