The Manufacturers Life Insurance Company Invests $1.03 Million in Pediatrix Medical Group, Inc. $MD

The Manufacturers Life Insurance Company bought a new stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) in the second quarter, Holdings Channel.com reports. The fund bought 40,683 shares of the company’s stock, valued at approximately $1,030,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Global Retirement Partners LLC increased its stake in Pediatrix Medical Group by 68,250.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,367 shares of the company’s stock worth $29,000 after buying an additional 1,365 shares during the period. Transamerica Financial Advisors LLC purchased a new stake in Pediatrix Medical Group in the 4th quarter valued at about $30,000. Eurizon Capital SGR S.p.A. bought a new position in Pediatrix Medical Group in the 4th quarter worth about $33,000. TD Private Client Wealth LLC bought a new position in Pediatrix Medical Group in the 4th quarter worth about $39,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Pediatrix Medical Group during the fourth quarter worth approximately $43,000. 97.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. UBS Group increased their price objective on Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $25.00 price objective on shares of Pediatrix Medical Group in a report on Wednesday, August 5th. Wall Street Zen lowered Pediatrix Medical Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings cut Pediatrix Medical Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.60.

Pediatrix Medical Group Price Performance

Shares of MD opened at $27.03 on Friday. The company has a 50 day moving average price of $26.32 and a 200-day moving average price of $23.37. Pediatrix Medical Group, Inc. has a fifty-two week low of $15.69 and a fifty-two week high of $27.94. The stock has a market capitalization of $2.20 billion, a PE ratio of 12.93 and a beta of 0.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.32.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $487.78 million for the quarter, compared to analyst estimates of $478.49 million. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. Pediatrix Medical Group’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Equities analysts predict that Pediatrix Medical Group, Inc. will post 2.17 earnings per share for the current fiscal year.

Pediatrix Medical Group 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.