Pediatrix Medical Group (NYSE:MD) Shares Gap Down After Earnings Miss

Pediatrix Medical Group, Inc. (NYSE:MD) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $21.97, but opened at $18.84. Pediatrix Medical Group shares last traded at $19.5790, with a volume of 495,787 shares trading hands.

The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). Pediatrix Medical Group had a return on equity of 20.45% and a net margin of 8.44%.The firm had revenue of $493.77 million during the quarter, compared to analyst estimates of $486.23 million. During the same quarter last year, the company posted $0.51 EPS. The company’s revenue was down 1.7% on a year-over-year basis.

Analyst Ratings Changes

MD has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Monday, December 29th. Truist Financial boosted their target price on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. UBS Group upped their price target on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, Zacks Research cut Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Pediatrix Medical Group presently has an average rating of “Hold” and an average price target of $21.00.

Insiders Place Their Bets

In other Pediatrix Medical Group news, CEO Mark S. Ordan sold 23,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $22.41, for a total value of $515,430.00. Following the completion of the sale, the chief executive officer directly owned 302,805 shares in the company, valued at $6,785,860.05. This represents a 7.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Pediatrix Medical Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MD. Royal Bank of Canada lifted its stake in shares of Pediatrix Medical Group by 23.8% in the 1st quarter. Royal Bank of Canada now owns 22,097 shares of the company’s stock valued at $320,000 after purchasing an additional 4,247 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Pediatrix Medical Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company’s stock valued at $743,000 after buying an additional 2,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Pediatrix Medical Group by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,506 shares of the company’s stock worth $3,891,000 after buying an additional 12,171 shares during the period. Allianz Asset Management GmbH increased its position in shares of Pediatrix Medical Group by 159.1% during the second quarter. Allianz Asset Management GmbH now owns 61,412 shares of the company’s stock valued at $881,000 after acquiring an additional 37,712 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Pediatrix Medical Group by 1.6% during the second quarter. Nordea Investment Management AB now owns 268,219 shares of the company’s stock valued at $3,793,000 after acquiring an additional 4,159 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Down 12.7%

The business’s 50 day moving average price is $21.69 and its 200-day moving average price is $19.51. The firm has a market capitalization of $1.65 billion, a PE ratio of 10.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83.

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.