Pediatrix Medical Group (NYSE:MD) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Pediatrix Medical Group (NYSE:MDFree Report) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other research firms have also commented on MD. Weiss Ratings lowered shares of Pediatrix Medical Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. UBS Group lifted their price objective on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a research note on Friday, May 8th. Jefferies Financial Group cut shares of Pediatrix Medical Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $27.00 to $28.00 in a research report on Wednesday, August 19th. Finally, Truist Financial raised their price target on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Six research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.60.

Read Our Latest Stock Report on MD

Pediatrix Medical Group Price Performance

Shares of Pediatrix Medical Group stock opened at $27.03 on Friday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 12.93 and a beta of 0.64. Pediatrix Medical Group has a twelve month low of $15.69 and a twelve month high of $27.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The business’s 50 day simple moving average is $26.37 and its 200-day simple moving average is $23.42.

Pediatrix Medical Group (NYSE:MDGet Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $487.78 million during the quarter, compared to analyst estimates of $478.49 million. Pediatrix Medical Group had a return on equity of 20.05% and a net margin of 8.96%.The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities research analysts forecast that Pediatrix Medical Group will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP acquired a new position in shares of Pediatrix Medical Group during the 2nd quarter valued at $832,000. Amundi boosted its stake in Pediatrix Medical Group by 51.6% during the second quarter. Amundi now owns 23,864 shares of the company’s stock valued at $604,000 after buying an additional 8,120 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Pediatrix Medical Group during the second quarter worth about $388,000. California State Teachers Retirement System grew its holdings in Pediatrix Medical Group by 3,906.1% during the second quarter. California State Teachers Retirement System now owns 3,282,109 shares of the company’s stock worth $83,136,000 after acquiring an additional 3,200,181 shares during the period. Finally, Readystate Asset Management LP acquired a new position in Pediatrix Medical Group during the second quarter worth about $437,000. Institutional investors and hedge funds own 97.71% of the company’s stock.

About Pediatrix Medical Group

(Get Free Report)

Pediatrix Medical Group, Inc (NYSE:MD) is a national physician-led medical group specializing in high-acuity newborn, maternal-fetal and pediatric subspecialty care. Headquartered in Sunrise, Florida, the company delivers clinical services through hospital-based physician staffing, advanced practitioner support and telemedicine programs. Its core specialties include neonatology, maternal-fetal medicine, pediatric cardiology, pediatric critical care, pediatric emergency medicine and anesthesiology.

Founded in 1979 and formerly known as MEDNAX, the company rebranded as Pediatrix Medical Group in 2022 to align its corporate identity with its primary clinical offerings.

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