Truist Financial Boosts Pediatrix Medical Group (NYSE:MD) Price Target to $10.00

Pediatrix Medical Group (NYSE:MD) had its price target boosted by research analysts at Truist Financial from $8.00 to $10.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 0.60% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised 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 report 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, August 7th. Finally, UBS Group raised their price objective on shares of Pediatrix Medical Group from $9.00 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.30.

Pediatrix Medical Group Price Performance

NYSE MD opened at $9.94 on Thursday. The firm has a market capitalization of $836.42 million, a price-to-earnings ratio of -11.69, a price-to-earnings-growth ratio of 1.99 and a beta of 1.56. The company has a 50 day simple moving average of $7.82 and a 200-day simple moving average of $8.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.38 and a quick ratio of 1.38. Pediatrix Medical Group has a 52-week low of $6.62 and a 52-week high of $15.00.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $504.30 million for the quarter, compared to analyst estimates of $505.49 million. Pediatrix Medical Group had a negative net margin of 12.58% and a positive return on equity of 10.59%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share. Equities research analysts predict that Pediatrix Medical Group will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO C Marc Richards sold 17,438 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $10.08, for a total value of $175,775.04. Following the completion of the transaction, the chief financial officer now directly owns 175,347 shares of the company’s stock, valued at approximately $1,767,497.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Pediatrix Medical Group

Several institutional investors have recently added to or reduced their stakes in MD. Rubric Capital Management LP increased its stake in shares of Pediatrix Medical Group by 797.0% in the second quarter. Rubric Capital Management LP now owns 8,150,000 shares of the company’s stock valued at $61,532,000 after buying an additional 7,241,400 shares in the last quarter. Boston Partners acquired a new stake in Pediatrix Medical Group in the 4th quarter valued at about $12,452,000. Invenomic Capital Management LP raised its stake in shares of Pediatrix Medical Group by 93.3% in the fourth quarter. Invenomic Capital Management LP now owns 1,377,951 shares of the company’s stock worth $12,815,000 after acquiring an additional 664,955 shares during the last quarter. Clark Estates Inc. NY bought a new stake in shares of Pediatrix Medical Group during the fourth quarter valued at approximately $3,302,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Pediatrix Medical Group by 639.4% during the second quarter. Cubist Systematic Strategies LLC now owns 290,336 shares of the company’s stock valued at $2,192,000 after purchasing an additional 251,072 shares during the last quarter. 97.71% of the stock is owned by institutional investors.

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.