Pediatrix Medical Group (NYSE:MD) Sets New 52-Week High Following Better-Than-Expected Earnings

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report)'s stock price reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $17.67 and last traded at $17.24, with a volume of 2055105 shares. The stock had previously closed at $14.11.

The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.12. Pediatrix Medical Group had a negative net margin of 4.92% and a positive return on equity of 15.47%. The company had revenue of $502.36 million for the quarter, compared to the consensus estimate of $486.22 million.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MD. Mizuho upped their price objective on Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. StockNews.com raised shares of Pediatrix Medical Group from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Pediatrix Medical Group from $9.00 to $15.00 and gave the company a "hold" rating in a research report on Monday, November 4th. UBS Group upped their target price on shares of Pediatrix Medical Group from $16.50 to $18.50 and gave the company a "neutral" rating in a report on Friday. Finally, Truist Financial raised their target price on shares of Pediatrix Medical Group from $15.00 to $18.00 and gave the company a "hold" rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.08.

Hedge Funds Weigh In On Pediatrix Medical Group

Several large investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. grew its stake in Pediatrix Medical Group by 95.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 2,500 shares of the company's stock valued at $33,000 after buying an additional 1,220 shares during the last quarter. Quest Partners LLC grew its position in shares of Pediatrix Medical Group by 25.6% in the third quarter. Quest Partners LLC now owns 3,054 shares of the company's stock valued at $35,000 after purchasing an additional 622 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Pediatrix Medical Group by 36.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,919 shares of the company's stock worth $51,000 after purchasing an additional 1,040 shares during the period. Quarry LP lifted its holdings in Pediatrix Medical Group by 54.1% during the 3rd quarter. Quarry LP now owns 4,735 shares of the company's stock worth $55,000 after purchasing an additional 1,662 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Pediatrix Medical Group by 65.9% during the 4th quarter. AlphaQuest LLC now owns 5,066 shares of the company's stock worth $66,000 after purchasing an additional 2,012 shares during the last quarter. 97.71% of the stock is owned by institutional investors.

Pediatrix Medical Group Price Performance

The company has a current ratio of 1.60, a quick ratio of 1.42 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $13.92 and a 200-day moving average of $13.05. The firm has a market capitalization of $1.35 billion, a P/E ratio of -13.08, a P/E/G ratio of 1.74 and a beta of 1.57.

Pediatrix Medical Group Company Profile

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.