Truist Financial Issues Positive Forecast for Pediatrix Medical Group (NYSE:MD) Stock Price

Pediatrix Medical Group (NYSE:MD) had its price target lifted by Truist Financial from $23.00 to $28.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a hold rating on the stock.

Other research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. UBS Group upped their price target on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Mizuho set a $24.00 price target on shares of Pediatrix Medical Group in a report on Friday, May 8th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.33.

Pediatrix Medical Group Price Performance

MD opened at $24.17 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1.98 billion, a P/E ratio of 11.73 and a beta of 0.66. The stock has a 50-day moving average price of $23.72 and a 200-day moving average price of $22.10. Pediatrix Medical Group has a 12-month low of $11.84 and a 12-month high of $27.94.

Pediatrix Medical Group (NYSE:MD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. The firm had revenue of $476.20 million for the quarter, compared to the consensus estimate of $465.83 million. During the same period last year, the firm posted $0.33 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Equities analysts predict that Pediatrix Medical Group will post 2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pediatrix Medical Group news, Director Shirley A. Weis sold 36,028 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total value of $855,665.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Pediatrix Medical Group

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Pediatrix Medical Group by 8.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,856,915 shares of the company’s stock valued at $82,496,000 after acquiring an additional 287,696 shares in the last quarter. Wasatch Advisors LP boosted its stake in Pediatrix Medical Group by 21.9% in the 2nd quarter. Wasatch Advisors LP now owns 2,498,884 shares of the company’s stock worth $63,297,000 after purchasing an additional 448,360 shares in the last quarter. Geode Capital Management LLC grew its position in Pediatrix Medical Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,181,712 shares of the company’s stock valued at $46,674,000 after purchasing an additional 14,421 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Pediatrix Medical Group by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,552,585 shares of the company’s stock valued at $33,210,000 after purchasing an additional 105,345 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Pediatrix Medical Group by 12.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,532,300 shares of the company’s stock valued at $32,776,000 after purchasing an additional 174,600 shares in the last quarter. 97.71% of the stock is owned by institutional investors.

Pediatrix Medical Group Company Profile

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.