Pediatrix Medical Group (NYSE:MD) Shares Gap Down – Here’s What Happened
by Renee Jackson · The Cerbat GemPediatrix Medical Group, Inc. (NYSE:MD – Get Free Report)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $22.41, but opened at $20.99. Pediatrix Medical Group shares last traded at $19.9770, with a volume of 85,875 shares trading hands.
Analysts Set New Price Targets
Several equities analysts have commented on MD shares. Jefferies Financial Group reiterated a “buy” rating and issued a $27.00 target price on shares of Pediatrix Medical Group in a research report on Monday, April 20th. UBS Group dropped their target price on Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. Truist Financial increased their target price on Pediatrix Medical Group from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Friday, March 27th. Finally, Zacks Research downgraded Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.33.
Check Out Our Latest Stock Analysis on MD
Pediatrix Medical Group Stock Down 11.0%
The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market capitalization of $1.66 billion, a P/E ratio of 10.28 and a beta of 0.70. The stock has a 50-day moving average price of $20.96 and a 200-day moving average price of $21.21.
Pediatrix Medical Group (NYSE:MD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Pediatrix Medical Group had a return on equity of 19.59% and a net margin of 8.64%.The company had revenue of $476.20 million during the quarter, compared to the consensus estimate of $465.83 million. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that Pediatrix Medical Group, Inc. will post 2.05 EPS for the current fiscal year.
Hedge Funds Weigh In On Pediatrix Medical Group
A number of hedge funds have recently made changes to their positions in the stock. Keybank National Association OH raised its position in shares of Pediatrix Medical Group by 2.0% during the first quarter. Keybank National Association OH now owns 22,941 shares of the company’s stock worth $491,000 after acquiring an additional 458 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Pediatrix Medical Group by 10.6% during the third quarter. Smartleaf Asset Management LLC now owns 6,250 shares of the company’s stock worth $101,000 after acquiring an additional 601 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Pediatrix Medical Group by 4.5% during the third quarter. PNC Financial Services Group Inc. now owns 14,525 shares of the company’s stock worth $243,000 after acquiring an additional 631 shares during the last quarter. Gotham Asset Management LLC raised its position in shares of Pediatrix Medical Group by 0.6% during the third quarter. Gotham Asset Management LLC now owns 116,093 shares of the company’s stock worth $1,945,000 after acquiring an additional 724 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Pediatrix Medical Group by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 16,816 shares of the company’s stock worth $360,000 after acquiring an additional 734 shares during the last quarter. 97.71% of the stock is currently owned by institutional investors.
About Pediatrix Medical Group
Pediatrix Medical Group, Inc (NYSE:MD) is a national physician-led medical group specializing in high-acuity newborn, maternal-fetal and pediatric subspecialty care. Headquartered in Sunrise, Florida, the company delivers clinical services through hospital-based physician staffing, advanced practitioner support and telemedicine programs. Its core specialties include neonatology, maternal-fetal medicine, pediatric cardiology, pediatric critical care, pediatric emergency medicine and anesthesiology.
Founded in 1979 and formerly known as MEDNAX, the company rebranded as Pediatrix Medical Group in 2022 to align its corporate identity with its primary clinical offerings.