Pediatrix Medical Group (NYSE:MD) Shares Down 5.7% on Analyst Downgrade

Shares of Pediatrix Medical Group, Inc. (NYSE:MD) traded down 5.7% during trading on Monday after Truist Financial lowered their price target on the stock from $10.00 to $8.00. Truist Financial currently has a hold rating on the stock. Pediatrix Medical Group traded as low as $6.96 and last traded at $6.98. 507,044 shares traded hands during trading, a decline of 49% from the average session volume of 996,439 shares. The stock had previously closed at $7.40.

MD has been the topic of several other research reports. StockNews.com upgraded shares of Pediatrix Medical Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Pediatrix Medical Group from a “sell” rating to a “hold” rating and set a $8.00 target price for the company in a research report on Friday, June 7th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.70.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MD. Boston Partners acquired a new position in Pediatrix Medical Group during the fourth quarter worth approximately $12,452,000. Clark Estates Inc. NY acquired a new position in shares of Pediatrix Medical Group during the fourth quarter worth $3,302,000. Pacer Advisors Inc. grew its holdings in Pediatrix Medical Group by 126.9% during the 4th quarter. Pacer Advisors Inc. now owns 3,235,729 shares of the company’s stock valued at $30,092,000 after purchasing an additional 1,809,828 shares in the last quarter. Connable Office Inc. purchased a new stake in Pediatrix Medical Group during the 4th quarter worth $217,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Pediatrix Medical Group by 10.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,634,065 shares of the company’s stock worth $15,197,000 after buying an additional 148,600 shares in the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.

Pediatrix Medical Group Trading Down 5.7 %

The business’s 50-day simple moving average is $7.53 and its two-hundred day simple moving average is $8.67. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $587.37 million, a PE ratio of -8.56, a PEG ratio of 1.47 and a beta of 1.56.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Pediatrix Medical Group had a positive return on equity of 10.31% and a negative net margin of 3.53%. The firm had revenue of $495.10 million during the quarter, compared to the consensus estimate of $496.25 million. On average, analysts predict that Pediatrix Medical Group, Inc. will post 1.13 earnings per share for the current year.

Pediatrix Medical Group Company Profile

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.