Pediatrix Medical Group (NYSE:MD) Hits New 1-Year High After Better-Than-Expected Earnings

Pediatrix Medical Group, Inc. (NYSE:MD) shares reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $17.67 and last traded at $17.24, with a volume of 2055105 shares changing hands. The stock had previously closed at $14.11.

The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. Pediatrix Medical Group had a negative net margin of 4.92% and a positive return on equity of 15.47%. The company had revenue of $502.36 million for the quarter, compared to analysts’ expectations of $486.22 million.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Macquarie assumed coverage on Pediatrix Medical Group in a report on Monday, December 16th. They set an “outperform” rating and a $18.00 price target on the stock. Jefferies Financial Group lifted their price target on Pediatrix Medical Group from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on Pediatrix Medical Group from $9.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Mizuho lifted their price target on Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, UBS Group lifted their price target on Pediatrix Medical Group from $16.50 to $18.50 and gave the stock a “neutral” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Pediatrix Medical Group currently has a consensus rating of “Hold” and an average price target of $17.08.

Institutional Trading of Pediatrix Medical Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp purchased a new stake in Pediatrix Medical Group in the 4th quarter valued at about $276,000. PharVision Advisers LLC acquired a new position in Pediatrix Medical Group in the 4th quarter valued at about $245,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Pediatrix Medical Group by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 256,335 shares of the company’s stock valued at $3,363,000 after acquiring an additional 18,627 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Pediatrix Medical Group in the 4th quarter valued at about $396,000. Finally, Squarepoint Ops LLC acquired a new position in Pediatrix Medical Group in the 4th quarter valued at about $132,000. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Pediatrix Medical Group Stock Performance

The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -12.97, a P/E/G ratio of 1.74 and a beta of 1.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.42 and a current ratio of 1.60. The firm has a 50-day simple moving average of $13.89 and a two-hundred day simple moving average of $12.99.

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.