Pediatrix Medical Group (NYSE:MD) Stock Price Down 3.5% After Insider Selling

Pediatrix Medical Group, Inc. (NYSE:MD)’s stock price traded down 3.5% during trading on Thursday following insider selling activity. The company traded as low as $22.14 and last traded at $21.7650. 42,312 shares traded hands during trading, a decline of 95% from the average session volume of 803,766 shares. The stock had previously closed at $22.56.

Specifically, CEO Mark S. Ordan sold 23,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $22.41, for a total transaction of $515,430.00. Following the transaction, the chief executive officer owned 302,805 shares of the company’s stock, valued at approximately $6,785,860.05. This trade represents a 7.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several brokerages have commented on MD. UBS Group upped their target price on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Monday. Wall Street Zen raised Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 4th. Truist Financial lifted their price target on Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Finally, Zacks Research upgraded Pediatrix Medical Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Pediatrix Medical Group Stock Performance

The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 11.48 and a beta of 0.77. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $20.73 and a 200-day moving average price of $16.92.

Pediatrix Medical Group (NYSE:MD) last posted its earnings results on Monday, November 3rd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.21. The business had revenue of $492.88 million for the quarter, compared to analyst estimates of $476.45 million. Pediatrix Medical Group had a net margin of 8.44% and a return on equity of 20.45%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, analysts expect that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pediatrix Medical Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of Pediatrix Medical Group by 10.6% in the third quarter. Smartleaf Asset Management LLC now owns 6,250 shares of the company’s stock valued at $101,000 after buying an additional 601 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Pediatrix Medical Group by 4.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,525 shares of the company’s stock worth $243,000 after buying an additional 631 shares during the period. Gotham Asset Management LLC boosted its position in Pediatrix Medical Group by 0.6% in the third quarter. Gotham Asset Management LLC now owns 116,093 shares of the company’s stock worth $1,945,000 after purchasing an additional 724 shares during the last quarter. AlphaQuest LLC grew its position in shares of Pediatrix Medical Group by 16.0% during the first quarter. AlphaQuest LLC now owns 5,877 shares of the company’s stock valued at $85,000 after purchasing an additional 811 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Pediatrix Medical Group by 3.5% in the 3rd quarter. Amalgamated Bank now owns 24,891 shares of the company’s stock worth $417,000 after acquiring an additional 831 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

About Pediatrix Medical Group

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.