Pediatrix Medical Group (NYSE:MD) Given New $24.00 Price Target at Truist Financial

Pediatrix Medical Group (NYSE:MD) had its target price increased by analysts at Truist Financial from $17.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 7.62% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Pediatrix Medical Group in a report on Wednesday, October 8th. Leerink Partners lifted their target price on shares of 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. UBS Group boosted their price target on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 4th. Finally, Zacks Research cut Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.80.

Pediatrix Medical Group Price Performance

MD stock traded up $0.37 during mid-day trading on Monday, hitting $22.30. 443,409 shares of the stock were exchanged, compared to its average volume of 773,784. The business has a fifty day moving average price of $17.29 and a 200 day moving average price of $15.16. Pediatrix Medical Group has a 12 month low of $11.84 and a 12 month high of $22.52. 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 stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 17.29 and a beta of 1.20.

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

Institutional Investors Weigh In On Pediatrix Medical Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MD. Boston Partners boosted its holdings in shares of Pediatrix Medical Group by 1.3% during the 1st quarter. Boston Partners now owns 1,981,889 shares of the company’s stock valued at $27,990,000 after buying an additional 25,536 shares in the last quarter. American Century Companies Inc. lifted its position in Pediatrix Medical Group by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 1,931,867 shares of the company’s stock valued at $27,722,000 after acquiring an additional 430,029 shares during the period. Invesco Ltd. lifted its position in Pediatrix Medical Group by 9.3% during the 1st quarter. Invesco Ltd. now owns 863,269 shares of the company’s stock valued at $12,509,000 after acquiring an additional 73,157 shares during the period. JPMorgan Chase & Co. boosted its stake in Pediatrix Medical Group by 20.5% during the third quarter. JPMorgan Chase & Co. now owns 827,075 shares of the company’s stock worth $13,854,000 after acquiring an additional 140,577 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Pediatrix Medical Group by 175.4% in the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock worth $10,683,000 after purchasing an additional 474,186 shares during the period. 97.71% of the stock is owned by hedge funds and other institutional investors.

About Pediatrix Medical Group

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.