Pediatrix Medical initiated with an Outperform at Macquarie

Macquarie initiated coverage of Pediatrix Medical (MD) with an Outperform rating and $18 price target Pediatrix Medical owns physician groups that staff and manages roughly one-quarter of hospital-based Neonatal Intensive Care Units in the U.S., notes the analyst. The firm considers valuation “attractive” as fundamentals stabilize and concerns around surprise billing legislation subsides, the analyst tells investors.