Pediatrix Medical Group (NYSE:MD) Sets New 1-Year Low at $8.90

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.90 and last traded at $8.99, with a volume of 320054 shares trading hands. The stock had previously closed at $9.80.

Wall Street Analysts Forecast Growth

MD has been the subject of a number of recent research reports. Truist Financial reduced their price target on Pediatrix Medical Group from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Wednesday, October 11th. StockNews.com initiated coverage on shares of Pediatrix Medical Group in a research report on Thursday, October 5th. They set a “hold” rating on the stock.

Pediatrix Medical Group Price Performance

The stock has a market cap of $740.22 million, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 0.67 and a beta of 1.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.20 and a current ratio of 1.20. The company has a 50-day simple moving average of $11.87 and a two-hundred day simple moving average of $13.23.

Pediatrix Medical Group (NYSE:MD) last issued its earnings results on Thursday, November 2nd. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.09). The firm had revenue of $506.60 million for the quarter, compared to analyst estimates of $507.59 million. Pediatrix Medical Group had a return on equity of 11.70% and a net margin of 4.65%. Pediatrix Medical Group’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, equities research analysts forecast that Pediatrix Medical Group, Inc. will post 1.2 EPS for the current year.

Institutional Investors Weigh In On Pediatrix Medical Group

Several hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC lifted its holdings in Pediatrix Medical Group by 122.5% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,595 shares of the company’s stock valued at $34,000 after purchasing an additional 878 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Pediatrix Medical Group by 90.6% in the first quarter. Tower Research Capital LLC TRC now owns 2,262 shares of the company’s stock valued at $34,000 after purchasing an additional 1,075 shares during the period. Royal Bank of Canada raised its position in shares of Pediatrix Medical Group by 97.3% in the third quarter. Royal Bank of Canada now owns 2,166 shares of the company’s stock valued at $35,000 after purchasing an additional 1,068 shares during the period. Quarry LP lifted its stake in shares of Pediatrix Medical Group by 88.5% during the 2nd quarter. Quarry LP now owns 2,586 shares of the company’s stock worth $37,000 after buying an additional 1,214 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Pediatrix Medical Group during the 3rd quarter worth about $84,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

About Pediatrix Medical Group

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.