Pediatrix Medical Group (NYSE:MD) Given New $23.00 Price Target at Truist Financial

Pediatrix Medical Group (NYSE:MD) had its target price lifted by Truist Financial from $21.00 to $23.00 in a research note released on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently issued reports on MD. UBS Group lowered their price objective on Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Friday, March 27th. Zacks Research cut Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft set a $19.00 target price on shares of Pediatrix Medical Group in a research note on Friday, February 20th. Finally, Jefferies Financial Group upgraded shares of Pediatrix Medical Group to a “strong-buy” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.20.

Pediatrix Medical Group Stock Performance

MD stock opened at $21.81 on Monday. The stock has a market capitalization of $1.81 billion, a PE ratio of 11.24 and a beta of 0.72. Pediatrix Medical Group has a 12-month low of $11.84 and a 12-month high of $24.99. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $20.52 and its 200 day simple moving average is $20.66.

Pediatrix Medical Group (NYSE:MD) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). The business had revenue of $493.77 million during the quarter, compared to the consensus estimate of $486.23 million. Pediatrix Medical Group had a net margin of 8.64% and a return on equity of 19.59%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, research analysts forecast that Pediatrix Medical Group will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pediatrix Medical Group

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in shares of Pediatrix Medical Group by 30.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,126,207 shares of the company’s stock worth $69,114,000 after purchasing an additional 968,553 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Pediatrix Medical Group by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,569,219 shares of the company’s stock worth $76,349,000 after purchasing an additional 169,441 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Pediatrix Medical Group by 38.9% in the 3rd quarter. American Century Companies Inc. now owns 2,682,976 shares of the company’s stock worth $44,940,000 after purchasing an additional 751,109 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Pediatrix Medical Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,181,712 shares of the company’s stock worth $46,674,000 after purchasing an additional 14,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Pediatrix Medical Group by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,552,585 shares of the company’s stock worth $33,210,000 after purchasing an additional 105,345 shares in the last quarter. 97.71% of the stock is currently owned by hedge funds and other 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.