Pediatrix Medical Group Inc. Down 11.75% To $8.19 After Earnings Meet

Pediatrix Medical Group Inc. (MD) said before open Tuesday that it earned $0.32 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $496.4 million, missing estimates by $26.9 million.

In the same quarter a year ago, the company earned $0.47 per share on revenue of $513.8 million.

The stock is down 11.75% to $8.19 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Pediatrix Medical Group Inc. a Bullish Sentiment Rank from InvestorsObserver.

Pediatrix Medical Group Inc. has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 4, putting Pediatrix Medical Group Inc. in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $8.18 on December 1, 2023 and set a 52-week high on February 23, 2023 at $17.02.

Pediatrix Medical Group Inc provides physician services to hospitals, intensive care units, and other medical units. The services provided by the company include maternal care for expectant mothers, intensive care for premature babies, cardiology care for infants suffering from heart defects, and anesthesia care during surgeries, among others. The company operates only under one segment, which is physician services. Mednax generates roughly half of its revenue from the women's and children's services provided, and also roughly half of the company's total revenue is earned in the United States.