Pediatrix Medical Group (NYSE:MD) Hits New 52-Week High – What’s Next?

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $24.99 and last traded at $25.0960, with a volume of 132398 shares. The stock had previously closed at $24.69.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MD. Mizuho set a $24.00 price target on Pediatrix Medical Group in a report on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a research note on Monday, April 20th. UBS Group upped their target price on Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Truist Financial lifted their price target on Pediatrix Medical Group from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.50.

Pediatrix Medical Group Trading Up 1.6%

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The company’s 50 day simple moving average is $22.94 and its two-hundred day simple moving average is $21.77. The company has a market cap of $2.06 billion, a PE ratio of 12.19 and a beta of 0.69.

Pediatrix Medical Group (NYSE:MD) last released 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. The business had revenue of $476.20 million during the quarter, compared to analyst estimates of $465.83 million. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal year.

Insider Activity at Pediatrix Medical Group

In related news, Director Shirley A. Weis sold 36,028 shares of Pediatrix Medical Group stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Pediatrix Medical Group

Several hedge funds have recently modified their holdings of MD. Phocas Financial Corp. increased its stake in shares of Pediatrix Medical Group by 44.5% during the fourth quarter. Phocas Financial Corp. now owns 335,551 shares of the company’s stock worth $7,177,000 after buying an additional 103,328 shares during the period. Ritholtz Wealth Management purchased a new position in Pediatrix Medical Group in the fourth quarter worth approximately $2,163,000. American Century Companies Inc. lifted its stake in 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 worth $44,940,000 after acquiring an additional 751,109 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Pediatrix Medical Group during the 4th quarter worth approximately $13,613,000. Finally, CSM Advisors LLC grew its holdings in Pediatrix Medical Group by 54.7% during the 3rd quarter. CSM Advisors LLC now owns 313,675 shares of the company’s stock worth $5,253,000 after acquiring an additional 110,877 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

About Pediatrix Medical Group

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.