Pediatrix Medical Group (NYSE:MD) Hits New 12-Month High on Strong Earnings

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report) reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $15.55 and last traded at $15.55, with a volume of 4063 shares trading hands. The stock had previously closed at $15.21.

The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. The business had revenue of $511.20 million during the quarter, compared to analysts' expectations of $498.87 million. Pediatrix Medical Group had a positive return on equity of 10.59% and a negative net margin of 12.58%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share.

Analyst Upgrades and Downgrades

MD has been the subject of a number of research reports. Mizuho upped their target price on shares of Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on Pediatrix Medical Group from $9.00 to $15.00 and gave the stock a "hold" rating in a research report on Monday. Truist Financial raised their price target on Pediatrix Medical Group from $13.00 to $16.00 and gave the company a "hold" rating in a report on Monday. UBS Group boosted their price target on shares of Pediatrix Medical Group from $9.00 to $10.50 and gave the stock a "neutral" rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group upgraded shares of Pediatrix Medical Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $8.00 to $14.00 in a research report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Pediatrix Medical Group has an average rating of "Hold" and a consensus target price of $14.10.

Insider Activity

In other Pediatrix Medical Group news, Director Laura A. Linynsky sold 7,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.16, for a total value of $78,120.00. Following the transaction, the director now directly owns 30,805 shares in the company, valued at $343,783.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Laura A. Linynsky sold 7,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.16, for a total transaction of $78,120.00. Following the transaction, the director now directly owns 30,805 shares in the company, valued at approximately $343,783.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James D. Swift sold 11,100 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $10.79, for a total transaction of $119,769.00. Following the transaction, the chief executive officer now owns 170,001 shares in the company, valued at approximately $1,834,310.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,100 shares of company stock valued at $701,889. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pediatrix Medical Group

A number of large investors have recently modified their holdings of MD. Vanguard Group Inc. grew its position in Pediatrix Medical Group by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 10,557,572 shares of the company's stock worth $105,892,000 after purchasing an additional 164,333 shares during the period. Rubric Capital Management LP lifted its holdings in Pediatrix Medical Group by 797.0% in the second quarter. Rubric Capital Management LP now owns 8,150,000 shares of the company's stock valued at $61,532,000 after acquiring an additional 7,241,400 shares during the period. Boston Partners boosted its position in Pediatrix Medical Group by 34.0% in the 1st quarter. Boston Partners now owns 1,786,434 shares of the company's stock worth $17,702,000 after purchasing an additional 453,254 shares in the last quarter. Dana Investment Advisors Inc. increased its holdings in shares of Pediatrix Medical Group by 80.3% during the 2nd quarter. Dana Investment Advisors Inc. now owns 1,023,136 shares of the company's stock valued at $7,725,000 after purchasing an additional 455,785 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in shares of Pediatrix Medical Group by 12.8% in the 2nd quarter. Brandes Investment Partners LP now owns 735,068 shares of the company's stock valued at $5,438,000 after purchasing an additional 83,588 shares during the period. Hedge funds and other institutional investors own 97.71% of the company's stock.

Pediatrix Medical Group Price Performance

The stock has a market capitalization of $1.30 billion, a PE ratio of -4.82, a P/E/G ratio of 1.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.38 and a quick ratio of 1.38. The stock's fifty day moving average is $11.62 and its 200-day moving average is $9.41.

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.