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

Pediatrix Medical Group, Inc. (NYSE:MD)’s stock price gapped down before the market opened 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 traded.

Analyst Ratings Changes

Several equities research analysts have commented on MD shares. Truist Financial boosted their target price on Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Pediatrix Medical Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $25.00 price objective on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. Jefferies Financial Group downgraded shares of Pediatrix Medical Group from a “buy” rating to a “hold” rating and raised their target price for the company from $27.00 to $28.00 in a research report on Wednesday, August 19th. Finally, Mizuho set a $24.00 price target on shares of Pediatrix Medical Group in a research note on Friday, May 8th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.00.

Pediatrix Medical Group Trading Down 1.7%

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

Pediatrix Medical Group (NYSE:MD) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. The business had revenue of $487.78 million for the quarter, compared to the consensus estimate of $478.49 million. During the same period in the previous year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Pediatrix Medical Group, Inc. will post 2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.