Vanguard Group Inc. Has $229.39 Million Position in Pediatrix Medical Group, Inc. $MD

Vanguard Group Inc. lessened its holdings in Pediatrix Medical Group, Inc. (NYSE:MD) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 10,724,265 shares of the company’s stock after selling 168,618 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Pediatrix Medical Group worth $229,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in Pediatrix Medical Group by 10.6% during the third quarter. Smartleaf Asset Management LLC now owns 6,250 shares of the company’s stock worth $101,000 after purchasing an additional 601 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Pediatrix Medical Group by 4.5% in the third quarter. PNC Financial Services Group Inc. now owns 14,525 shares of the company’s stock valued at $243,000 after purchasing an additional 631 shares during the period. Gotham Asset Management LLC lifted its stake in shares of Pediatrix Medical Group by 0.6% during the 3rd quarter. Gotham Asset Management LLC now owns 116,093 shares of the company’s stock worth $1,945,000 after buying an additional 724 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Pediatrix Medical Group by 3.5% during the 3rd quarter. Amalgamated Bank now owns 24,891 shares of the company’s stock worth $417,000 after buying an additional 831 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Pediatrix Medical Group by 4.4% during the 3rd 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. Institutional investors and hedge funds own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Up 2.4%

Shares of MD opened at $23.48 on Friday. The firm has a 50 day simple moving average of $21.11 and a two-hundred day simple moving average of $21.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.66. Pediatrix Medical Group, Inc. has a one year low of $11.84 and a one year high of $24.99. The company has a market cap of $1.93 billion, a P/E ratio of 11.40 and a beta of 0.70.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.The company had revenue of $476.20 million for the quarter, compared to analyst estimates of $465.83 million. During the same quarter last year, the company posted $0.33 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts forecast that Pediatrix Medical Group, Inc. will post 2.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MD. Jefferies Financial Group reiterated a “buy” rating and issued a $27.00 price target on shares of Pediatrix Medical Group in a research note on Monday, April 20th. UBS Group reduced their price objective on Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Truist Financial upped their target price on Pediatrix Medical Group from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Mizuho set a $24.00 target price on Pediatrix Medical Group in a research note on Friday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

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.