Pediatrix Medical Group (NYSE:MD) Stock Price Down 5.7% Following Analyst Downgrade

Pediatrix Medical Group, Inc. (NYSE:MD)’s stock price dropped 5.7% during mid-day 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. Approximately 507,044 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 996,439 shares. The stock had previously closed at $7.40.

Several other research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Pediatrix Medical Group from a “sell” rating to a “hold” rating and set a $8.00 price target on the stock in a research note on Friday, June 7th. StockNews.com raised shares of Pediatrix Medical Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.70.

Hedge Funds Weigh In On Pediatrix Medical Group

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Pediatrix Medical Group by 1.6% during the first quarter. Vanguard Group Inc. now owns 10,557,572 shares of the company’s stock worth $105,892,000 after purchasing an additional 164,333 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pediatrix Medical Group by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,409,884 shares of the company’s stock valued at $41,013,000 after buying an additional 59,336 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Pediatrix Medical Group by 126.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,235,729 shares of the company’s stock valued at $30,092,000 after acquiring an additional 1,809,828 shares during the last quarter. Boston Partners lifted its position in shares of Pediatrix Medical Group by 34.0% in the 1st quarter. Boston Partners now owns 1,786,434 shares of the company’s stock worth $17,702,000 after purchasing an additional 453,254 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Pediatrix Medical Group by 10.0% during the fourth 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 during the period. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Pediatrix Medical Group Trading Down 5.7 %

The company has a market cap of $587.37 million, a P/E ratio of -8.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.56. The firm has a 50-day moving average of $7.53 and a 200 day moving average of $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.

Pediatrix Medical Group (NYSE:MD) last announced its earnings results on Tuesday, May 7th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. Pediatrix Medical Group had a negative net margin of 3.53% and a positive return on equity of 10.31%. The company 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 fiscal year.

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.