Bailard Inc. Acquires New Position in Pediatrix Medical Group, Inc. $MD

Bailard Inc. bought a new position in shares of Pediatrix Medical Group, Inc. (NYSE:MD) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 42,200 shares of the company’s stock, valued at approximately $707,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MD. American Century Companies Inc. lifted its stake in shares of Pediatrix Medical Group by 28.6% during the second quarter. American Century Companies Inc. now owns 1,931,867 shares of the company’s stock worth $27,722,000 after buying an additional 430,029 shares during the period. Ameriprise Financial Inc. raised its stake in Pediatrix Medical Group by 175.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock worth $10,683,000 after acquiring an additional 474,186 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Pediatrix Medical Group by 2.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 735,526 shares of the company’s stock valued at $10,555,000 after purchasing an additional 14,596 shares during the last quarter. Nomura Holdings Inc. increased its holdings in shares of Pediatrix Medical Group by 121.4% in the second quarter. Nomura Holdings Inc. now owns 576,730 shares of the company’s stock valued at $8,276,000 after purchasing an additional 316,274 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in shares of Pediatrix Medical Group by 3.7% in the second quarter. Bridgeway Capital Management LLC now owns 574,885 shares of the company’s stock worth $8,250,000 after purchasing an additional 20,433 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Wall Street Analysts Forecast Growth

MD has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Monday, December 29th. UBS Group raised their target price on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Zacks Research raised shares of Pediatrix Medical Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 21st. Wall Street Zen upgraded Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 4th. Finally, Truist Financial boosted their price objective on Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a report on Monday, November 10th. One equities research 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 stock. According to MarketBeat.com, Pediatrix Medical Group currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Pediatrix Medical Group Stock Performance

Shares of MD stock opened at $21.50 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65. Pediatrix Medical Group, Inc. has a 12-month low of $11.84 and a 12-month high of $24.99. The business’s 50 day moving average is $22.39 and its two-hundred day moving average is $18.42. The company has a market capitalization of $1.85 billion, a P/E ratio of 11.31 and a beta of 0.73.

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

Insider Activity at Pediatrix Medical Group

In other news, Director Laura A. Linynsky sold 10,000 shares of Pediatrix Medical Group stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $21.65, for a total value of $216,500.00. Following the sale, the director directly owned 32,232 shares of the company’s stock, valued at $697,822.80. The trade was a 23.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark S. Ordan sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $22.41, for a total value of $515,430.00. Following the sale, the chief executive officer owned 302,805 shares of the company’s stock, valued at $6,785,860.05. The trade was a 7.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 43,478 shares of company stock valued at $972,924. 0.90% 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.