Jennison Associates LLC Buys 24,950 Shares of Pediatrix Medical Group, Inc. $MD

Jennison Associates LLC raised its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 69.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 60,846 shares of the company’s stock after purchasing an additional 24,950 shares during the quarter. Jennison Associates LLC’s holdings in Pediatrix Medical Group were worth $1,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MD. Wasatch Advisors LP bought a new stake in shares of Pediatrix Medical Group in the 1st quarter valued at about $43,861,000. Allspring Global Investments Holdings LLC bought a new position in Pediatrix Medical Group during the 4th quarter worth approximately $13,613,000. Rockefeller Capital Management L.P. grew its holdings in Pediatrix Medical Group by 814.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 594,351 shares of the company’s stock valued at $12,713,000 after purchasing an additional 529,367 shares during the period. Ameriprise Financial Inc. grew its holdings in Pediatrix Medical Group by 175.4% during the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock valued at $10,683,000 after purchasing an additional 474,186 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Pediatrix Medical Group by 669.4% during the second quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company’s stock valued at $6,832,000 after purchasing an additional 414,216 shares during the period. 97.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a report on Friday, May 8th. Truist Financial boosted their price target on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Jefferies Financial Group restated a “buy” rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. Finally, UBS Group lifted their target price on Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Pediatrix Medical Group has a consensus rating of “Hold” and an average price target of $23.33.

Pediatrix Medical Group Price Performance

NYSE MD opened at $25.86 on Thursday. The business has a 50 day simple moving average of $24.05 and a 200 day simple moving average of $22.28. Pediatrix Medical Group, Inc. has a 52-week low of $11.84 and a 52-week high of $27.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 12.56 and a beta of 0.66.

Pediatrix Medical Group (NYSE:MD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. The firm had revenue of $476.20 million for the quarter, compared to analyst estimates of $465.83 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Shirley A. Weis sold 36,028 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total transaction of $855,665.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

About Pediatrix Medical Group

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.