Pediatrix Medical Group (NYSE:MD) Shares Gap Up Following Earnings Beat

Pediatrix Medical Group, Inc. (NYSE:MD - Get Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $14.11, but opened at $14.80. Pediatrix Medical Group shares last traded at $16.59, with a volume of 193,091 shares.

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

Wall Street Analysts Forecast Growth

MD has been the topic of a number of analyst reports. StockNews.com upgraded shares of Pediatrix Medical Group from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Macquarie assumed coverage on Pediatrix Medical Group in a research note on Monday, December 16th. They issued an "outperform" rating and a $18.00 target price on the stock. Truist Financial raised their price target on Pediatrix Medical Group from $15.00 to $18.00 and gave the company a "hold" rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Pediatrix Medical Group from $9.00 to $15.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their target price on shares of Pediatrix Medical Group from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $17.08.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Pediatrix Medical Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 10,812,611 shares of the company's stock valued at $141,861,000 after buying an additional 113,976 shares during the period. Rubric Capital Management LP grew its position in Pediatrix Medical Group by 1.5% during the 3rd quarter. Rubric Capital Management LP now owns 8,275,000 shares of the company's stock worth $95,907,000 after acquiring an additional 125,000 shares during the last quarter. State Street Corp increased its stake in Pediatrix Medical Group by 1.4% in the 3rd quarter. State Street Corp now owns 3,540,791 shares of the company's stock worth $41,038,000 after purchasing an additional 50,597 shares during the period. Pacer Advisors Inc. bought a new stake in Pediatrix Medical Group in the fourth quarter valued at approximately $35,492,000. Finally, Boston Partners boosted its stake in shares of Pediatrix Medical Group by 25.2% during the fourth quarter. Boston Partners now owns 1,956,353 shares of the company's stock valued at $25,922,000 after purchasing an additional 393,600 shares during the period. 97.71% of the stock is owned by hedge funds and other institutional investors.

Pediatrix Medical Group Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.60 and a quick ratio of 1.42. The business has a 50 day moving average price of $13.89 and a two-hundred day moving average price of $13.01. The stock has a market cap of $1.35 billion, a PE ratio of -13.08, a price-to-earnings-growth ratio of 1.74 and a beta of 1.57.

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.