Pediatrix Medical Group (NYSE:MD) Shares Gap Down – Here’s Why

Pediatrix Medical Group, Inc. (NYSE:MDGet Free Report) gapped down prior to trading on Monday . The stock had previously closed at $26.61, but opened at $25.33. Pediatrix Medical Group shares last traded at $26.4640, with a volume of 14,790 shares changing hands.

Wall Street Analysts Forecast Growth

MD has been the topic of a number of recent analyst reports. Weiss Ratings cut Pediatrix Medical Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Mizuho set a $24.00 price target on shares of Pediatrix Medical Group in a research report on Friday, May 8th. UBS Group lifted their price objective on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Jefferies Financial Group cut shares of Pediatrix Medical Group from a “buy” rating to a “hold” rating and boosted their price objective for the company from $27.00 to $28.00 in a report on Wednesday, August 19th. Finally, Truist Financial upped their target price 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. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, Pediatrix Medical Group currently has a consensus rating of “Hold” and an average price target of $25.00.

View Our Latest Analysis on MD

Pediatrix Medical Group Stock Down 1.7%

The firm has a fifty day simple moving average of $26.06 and a 200-day simple moving average of $23.19. The company has a market capitalization of $2.13 billion, a P/E ratio of 12.52 and a beta of 0.66. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.45.

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 for the quarter, beating the consensus estimate of $0.59 by $0.04. Pediatrix Medical Group had a return on equity of 20.05% and a net margin of 8.96%.The business had revenue of $487.78 million for the quarter, compared to analysts’ expectations of $478.49 million. During the same quarter in the previous year, the business posted $0.53 EPS. Pediatrix Medical Group’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts expect that Pediatrix Medical Group, Inc. will post 2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Pediatrix Medical Group

Several large investors have recently made changes to their positions in MD. Global Retirement Partners LLC lifted its position in Pediatrix Medical Group by 68,250.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,367 shares of the company’s stock valued at $29,000 after acquiring an additional 1,365 shares in the last quarter. Transamerica Financial Advisors LLC bought a new position in Pediatrix Medical Group during the 4th quarter worth about $30,000. Eurizon Capital SGR S.p.A. bought a new position in Pediatrix Medical Group during the 4th quarter worth about $33,000. Nykredit A S acquired a new stake in shares of Pediatrix Medical Group in the 2nd quarter valued at about $35,000. Finally, TD Private Client Wealth LLC acquired a new stake in shares of Pediatrix Medical Group in the 4th quarter valued at about $39,000. Institutional investors 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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