Wedge Capital Management L L P NC Trims Stock Position in Pediatrix Medical Group, Inc. $MD

Wedge Capital Management L L P NC lowered its position in Pediatrix Medical Group, Inc. (NYSE:MD) by 16.6% in the second quarter, HoldingsChannel reports. The fund owned 109,110 shares of the company’s stock after selling 21,750 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Pediatrix Medical Group were worth $2,764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Keybank National Association OH increased its position in shares of Pediatrix Medical Group by 2.0% during the first quarter. Keybank National Association OH now owns 22,941 shares of the company’s stock worth $491,000 after purchasing an additional 458 shares in the last quarter. Gotham Asset Management LLC grew its stake in shares of Pediatrix Medical Group by 0.6% in the 3rd quarter. Gotham Asset Management LLC now owns 116,093 shares of the company’s stock valued at $1,945,000 after buying an additional 724 shares during the period. ProShare Advisors LLC increased its stake in Pediatrix Medical Group by 4.6% during the fourth quarter. ProShare Advisors LLC now owns 16,816 shares of the company’s stock worth $360,000 after acquiring an additional 734 shares during the last quarter. Verition Fund Management LLC boosted its stake in Pediatrix Medical Group by 4.4% during the third quarter. Verition Fund Management LLC now owns 25,408 shares of the company’s stock worth $426,000 after buying an additional 1,066 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Pediatrix Medical Group by 77.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,515 shares of the company’s stock worth $54,000 after purchasing an additional 1,100 shares during the period. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Performance

NYSE MD opened at $26.40 on Friday. The company has a market capitalization of $2.15 billion, a P/E ratio of 12.63 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 1.32. Pediatrix Medical Group, Inc. has a 1-year low of $15.27 and a 1-year high of $27.94. The business has a 50 day moving average price of $25.41 and a 200 day moving average price of $22.76.

Pediatrix Medical Group (NYSE:MD) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. The business had revenue of $487.78 million for the quarter, compared to analyst estimates of $478.49 million. During the same period in the previous year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Pediatrix Medical Group, Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MD has been the topic of several research reports. Truist Financial increased their price target on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded Pediatrix Medical Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. UBS Group boosted their price target on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $25.00 target price on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.83.

Pediatrix Medical Group Company Profile

Pediatrix Medical Group, Inc (NYSE:MD) is a national physician-led medical group specializing in high-acuity newborn, maternal-fetal and pediatric subspecialty care. Headquartered in Sunrise, Florida, the company delivers clinical services through hospital-based physician staffing, advanced practitioner support and telemedicine programs. Its core specialties include neonatology, maternal-fetal medicine, pediatric cardiology, pediatric critical care, pediatric emergency medicine and anesthesiology.

Founded in 1979 and formerly known as MEDNAX, the company rebranded as Pediatrix Medical Group in 2022 to align its corporate identity with its primary clinical offerings.