Pediatrix Medical Group (NYSE:MD) Reaches New 1-Year High on Earnings Beat

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price hit a new 52-week high during trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $15.55 and last traded at $15.55, with a volume of 4063 shares. The stock had previously closed at $15.21.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MD. Truist Financial boosted their price objective on shares of Pediatrix Medical Group from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Monday. Mizuho increased their price target on Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com upgraded Pediatrix Medical Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Jefferies Financial Group raised Pediatrix Medical Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $8.00 to $14.00 in a research report on Thursday, September 26th. Finally, UBS Group boosted their price target on shares of Pediatrix Medical Group from $9.00 to $10.50 and gave the company a “neutral” rating in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Pediatrix Medical Group presently has an average rating of “Hold” and an average price target of $14.10.

Insiders Place Their Bets

In related news, Director Laura A. Linynsky sold 7,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $343,783.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Laura A. Linynsky sold 7,000 shares of the business’s 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 of the company’s stock, valued at approximately $343,783.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James D. Swift sold 11,100 shares of the company’s 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 completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,100 shares of company stock worth $701,889. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Pediatrix Medical Group in the 2nd quarter valued at $31,000. Innealta Capital LLC acquired a new stake in shares of Pediatrix Medical Group in the second quarter worth about $33,000. Nisa Investment Advisors LLC boosted its stake in shares of Pediatrix Medical Group by 47.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,755 shares of the company’s stock worth $36,000 after acquiring an additional 1,524 shares in the last quarter. CWM LLC increased its holdings in shares of Pediatrix Medical Group by 134.0% during the 3rd quarter. CWM LLC now owns 6,427 shares of the company’s stock valued at $74,000 after acquiring an additional 3,681 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Pediatrix Medical Group in the 2nd quarter valued at approximately $72,000. 97.71% of the stock is owned by institutional investors and hedge funds.

Pediatrix Medical Group Trading Down 0.5 %

The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.55. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $11.62 and a two-hundred day moving average of $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.