Pediatrix Medical Group (NYSE:MD) Sets New 1-Year High – Here’s Why

Shares of Pediatrix Medical Group, Inc. (NYSE:MD) hit a new 52-week high during trading on Friday. The company traded as high as $28.02 and last traded at $27.8280, with a volume of 17,562 shares traded. The stock had previously closed at $27.76.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Truist Financial lifted their price objective on Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Jefferies Financial Group lowered shares of Pediatrix Medical Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $27.00 to $28.00 in a research note on Wednesday, August 19th. Weiss Ratings raised Pediatrix Medical Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $25.00 price target on shares of Pediatrix Medical Group in a research note on Wednesday, August 5th. Finally, UBS Group increased their target price on Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.60.

Pediatrix Medical Group Trading Down 1.0%

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 company has a market capitalization of $2.23 billion, a P/E ratio of 13.17 and a beta of 0.61. The business has a fifty day moving average of $26.45 and a 200-day moving average of $24.68.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $478.49 million. During the same period in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that Pediatrix Medical Group, Inc. will post 2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of large investors have recently modified their holdings of MD. Bank of America Corp DE purchased a new position in Pediatrix Medical Group in the 2nd quarter worth approximately $7,837,000. The Manufacturers Life Insurance Company purchased a new stake in Pediatrix Medical Group in the second quarter worth $1,030,000. Tidal Investments LLC lifted its position in Pediatrix Medical Group by 253.9% during the 2nd quarter. Tidal Investments LLC now owns 616,048 shares of the company’s stock valued at $15,604,000 after acquiring an additional 441,959 shares during the period. Legal & General Group Plc bought a new stake in shares of Pediatrix Medical Group in the 2nd quarter worth approximately $4,638,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Pediatrix Medical Group in the second quarter worth $868,000. 97.71% of the stock is owned by hedge funds and other institutional investors.

About Pediatrix Medical Group

Pediatrix Medical Group, Inc provides physician-led health care services to hospitals, health systems and patients across the United States. The company focuses on specialized care for women, infants and children, supporting patients in hospital-based and affiliated clinical settings.

Its services include neonatal and perinatal care, maternal-fetal medicine, pediatric cardiology and other pediatric subspecialties. Pediatrix physicians commonly practice in neonatal intensive care units, delivery rooms, pediatric emergency departments and other hospital departments, working with care teams to manage complex medical needs.

The company was founded in 1979 and operated for many years under the name MEDNAX, Inc It adopted the Pediatrix Medical Group name in 2023 as part of a broader effort to emphasize its pediatric, neonatal and maternal-fetal health care businesses.