Pediatrix Medical Group (NYSE:MD) Sets New 1-Year High – Time to Buy?

Pediatrix Medical Group, Inc. (NYSE:MD)’s stock price reached a new 52-week high on Wednesday. The company traded as high as $31.62 and last traded at $31.5640, with a volume of 20,867 shares changing hands. The stock had previously closed at $30.60.

Analysts Set New Price Targets

A number of research analysts recently commented on MD shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $25.00 price target on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. UBS Group boosted their target price on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Truist Financial upped their price target on shares of Pediatrix Medical Group from $28.00 to $31.00 and gave the stock a “hold” rating in a report on Friday, October 30th. Jefferies Financial Group lowered shares of Pediatrix Medical Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $27.00 to $28.00 in a research report on Wednesday, August 19th. Finally, Wall Street Zen raised shares of Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 13th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.20.

Pediatrix Medical Group Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50-day simple moving average of $27.31 and a 200-day simple moving average of $24.05. The stock has a market cap of $2.49 billion, a P/E ratio of 17.29 and a beta of 0.62.

Pediatrix Medical Group (NYSE:MD) last posted its earnings results on Thursday, October 29th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The firm had revenue of $501.37 million during the quarter, compared to analysts’ expectations of $498.18 million. Pediatrix Medical Group had a net margin of 7.66% and a return on equity of 20.12%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. Research analysts forecast that Pediatrix Medical Group, Inc. will post 2.17 earnings per share for the current year.

Institutional Trading of Pediatrix Medical Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Pediatrix Medical Group in the second quarter valued at about $347,383,000. Bank of New York Mellon Corp acquired a new position in shares of Pediatrix Medical Group in the second quarter worth approximately $14,297,000. Empowered Funds LLC acquired a new position in shares of Pediatrix Medical Group in the second quarter worth approximately $12,668,000. Allspring Global Investments Holdings LLC boosted its holdings in Pediatrix Medical Group by 27.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,070,961 shares of the company’s stock valued at $53,348,000 after acquiring an additional 452,051 shares during the last quarter. Finally, Wasatch Advisors LP boosted its holdings in Pediatrix Medical Group by 21.9% in the second quarter. Wasatch Advisors LP now owns 2,498,884 shares of the company’s stock valued at $63,297,000 after acquiring an additional 448,360 shares during the last quarter. Institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Company Profile

Pediatrix Medical Group, Inc provides specialized physician-led healthcare services for women, infants and children. The company’s clinical offerings include neonatal and perinatal care, maternal-fetal medicine, pediatric medical subspecialties, pediatric hospitalist services and related services delivered in partnership with hospitals and healthcare systems.

Pediatrix-affiliated physicians and advanced practice providers generally work in hospital-based settings, including neonatal intensive care units, delivery rooms, pediatric units and outpatient practices.