Pediatrix Medical Group (NYSE:MD) Posts Earnings Results

Pediatrix Medical Group (NYSE:MD) announced its quarterly earnings results on Monday. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.21, Briefing.com reports. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%.The company had revenue of $492.88 million during the quarter, compared to analysts’ expectations of $476.45 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year.

Pediatrix Medical Group Trading Down 2.2%

Pediatrix Medical Group stock opened at $17.00 on Monday. The business has a 50 day moving average price of $16.84 and a two-hundred day moving average price of $14.83. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 13.18 and a beta of 1.26. Pediatrix Medical Group has a 12 month low of $11.84 and a 12 month high of $18.22.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MD shares. Wall Street Zen raised Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 4th. Truist Financial set a $17.00 price objective on Pediatrix Medical Group in a research report on Tuesday, October 14th. UBS Group boosted their price objective on Pediatrix Medical Group from $16.00 to $16.50 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Leerink Partners boosted their price objective on Pediatrix Medical Group from $14.50 to $17.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pediatrix Medical Group in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.93.

Hedge Funds Weigh In On Pediatrix Medical Group

Several large investors have recently added to or reduced their stakes in MD. Ameriprise Financial Inc. raised its holdings in shares of Pediatrix Medical Group by 175.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock worth $10,683,000 after buying an additional 474,186 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Pediatrix Medical Group by 2.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 735,526 shares of the company’s stock worth $10,555,000 after buying an additional 14,596 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Pediatrix Medical Group by 3.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 574,885 shares of the company’s stock worth $8,250,000 after buying an additional 20,433 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Pediatrix Medical Group by 669.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company’s stock worth $6,832,000 after buying an additional 414,216 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Pediatrix Medical Group in the 2nd quarter worth approximately $4,248,000. Institutional investors and hedge funds own 97.71% of the company’s stock.

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.