Pediatrix Medical Group (NYSE:MD) Shares Gap Up on Earnings Beat

Shares of Pediatrix Medical Group, Inc. (NYSE:MD) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $14.11, but opened at $14.80. Pediatrix Medical Group shares last traded at $16.59, with a volume of 193,091 shares trading hands.

The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. Pediatrix Medical Group had a positive return on equity of 12.79% and a negative net margin of 12.65%.

Analyst Upgrades and Downgrades

MD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Pediatrix Medical Group from $9.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Truist Financial cut their price objective on shares of Pediatrix Medical Group from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Jefferies Financial Group boosted their target price on shares of Pediatrix Medical Group from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. UBS Group raised their price target on shares of Pediatrix Medical Group from $10.50 to $16.50 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Pediatrix Medical Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Pediatrix Medical Group has a consensus rating of “Hold” and a consensus target price of $16.25.

Institutional Investors Weigh In On Pediatrix Medical Group

Several hedge funds have recently bought and sold shares of MD. Vanguard Group Inc. lifted its stake in shares of Pediatrix Medical Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,812,611 shares of the company’s stock valued at $141,861,000 after purchasing an additional 113,976 shares during the period. Rubric Capital Management LP raised its position in shares of Pediatrix Medical Group by 1.5% in the third quarter. Rubric Capital Management LP now owns 8,275,000 shares of the company’s stock worth $95,907,000 after acquiring an additional 125,000 shares during the period. State Street Corp boosted its stake in shares of Pediatrix Medical Group by 1.4% during the 3rd quarter. State Street Corp now owns 3,540,791 shares of the company’s stock worth $41,038,000 after acquiring an additional 50,597 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Pediatrix Medical Group during the 4th quarter valued at about $35,492,000. Finally, Boston Partners increased its stake in shares of Pediatrix Medical Group by 25.2% in the 4th quarter. Boston Partners now owns 1,956,353 shares of the company’s stock valued at $25,922,000 after purchasing an additional 393,600 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Up 19.1 %

The company has a market cap of $1.44 billion, a price-to-earnings ratio of -5.48, a PEG ratio of 1.44 and a beta of 1.57. The business has a fifty day moving average of $13.80 and a two-hundred day moving average of $12.88. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.83.

About Pediatrix Medical Group

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.