Pediatrix Medical Group (NYSE:MD) Shares Gap Down – Should You Sell?

Pediatrix Medical Group, Inc. (NYSE:MD) gapped down before the market opened 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 changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MD. Deutsche Bank Aktiengesellschaft set a $19.00 target price on shares of Pediatrix Medical Group in a research report on Friday, February 20th. Zacks Research lowered shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. UBS Group decreased their price objective on shares of Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a report on Monday, April 20th. Finally, Truist Financial lifted their target price on shares of Pediatrix Medical Group from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.33.

Pediatrix Medical Group Stock Up 3.0%

The firm’s 50-day simple moving average is $21.11 and its two-hundred day simple moving average is $21.33. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 11.11 and a beta of 0.70. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.66 and a current ratio of 2.48.

Pediatrix Medical Group (NYSE:MD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. The firm had revenue of $476.20 million for the quarter, compared to the consensus estimate of $465.83 million. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. On average, sell-side analysts expect that Pediatrix Medical Group, Inc. will post 2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP bought a new stake in shares of Pediatrix Medical Group during the first quarter worth approximately $43,861,000. Victory Capital Management Inc. lifted 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 valued at $69,114,000 after purchasing an additional 968,553 shares during the period. American Century Companies Inc. boosted its position 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 during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pediatrix Medical Group during the fourth quarter worth $13,613,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Pediatrix Medical Group by 814.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 594,351 shares of the company’s stock valued at $12,713,000 after purchasing an additional 529,367 shares during the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Pediatrix Medical Group Company Profile

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.