Pediatrix Medical Group (NYSE:MD) Reaches New 1-Year High – Here’s What Happened

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $24.02 and last traded at $23.9150, with a volume of 293827 shares changing hands. The stock had previously closed at $23.10.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Wednesday. Truist Financial lifted their target price on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Zacks Research lowered shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Leerink Partners raised their price objective on Pediatrix Medical Group from $14.50 to $17.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. Finally, Wall Street Zen raised shares of Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 4th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Pediatrix Medical Group has an average rating of “Hold” and an average target price of $21.00.

Pediatrix Medical Group Trading Up 3.1%

The company has a market capitalization of $2.05 billion, a PE ratio of 18.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.80 and a quick ratio of 1.80. The company’s fifty day moving average is $18.48 and its 200-day moving average is $15.85.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.21. Pediatrix Medical Group had a net margin of 5.66% and a return on equity of 18.94%. The firm had revenue of $492.88 million for the quarter, compared to the consensus estimate of $476.45 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Pediatrix Medical Group, Inc. will post 1.38 EPS for the current fiscal year.

Insider Activity at Pediatrix Medical Group

In related news, Director Michael A. Rucker sold 10,478 shares of Pediatrix Medical Group stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $23.00, for a total value of $240,994.00. Following the completion of the transaction, the director owned 59,101 shares in the company, valued at $1,359,323. The trade was a 15.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura A. Linynsky sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $21.65, for a total value of $216,500.00. Following the transaction, the director directly owned 32,232 shares of the company’s stock, valued at approximately $697,822.80. The trade was a 23.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Pediatrix Medical Group by 30.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,126,207 shares of the company’s stock valued at $69,114,000 after acquiring an additional 968,553 shares in the last quarter. American Century Companies Inc. grew its position in shares of Pediatrix Medical Group by 38.9% in the third quarter. American Century Companies Inc. now owns 2,682,976 shares of the company’s stock valued at $44,940,000 after purchasing an additional 751,109 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Pediatrix Medical Group in the first quarter valued at approximately $8,024,000. Ameriprise Financial Inc. lifted its position in Pediatrix Medical Group by 175.4% during the second 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. Finally, BNP Paribas Financial Markets lifted its position in Pediatrix Medical Group by 669.4% during the second 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. Hedge funds and other institutional investors 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.