Great Lakes Advisors LLC Cuts Holdings in Pediatrix Medical Group, Inc. $MD

Great Lakes Advisors LLC lowered its position in Pediatrix Medical Group, Inc. (NYSE:MD) by 49.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,123 shares of the company’s stock after selling 164,723 shares during the period. Great Lakes Advisors LLC’s holdings in Pediatrix Medical Group were worth $2,816,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new position in shares of Pediatrix Medical Group in the 2nd quarter valued at about $83,000. Quantbot Technologies LP acquired a new stake in Pediatrix Medical Group in the second quarter valued at approximately $99,000. Tower Research Capital LLC TRC increased its position in shares of Pediatrix Medical Group by 219.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,685 shares of the company’s stock valued at $110,000 after buying an additional 5,278 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Pediatrix Medical Group during the 2nd quarter worth approximately $145,000. Finally, Freedom Investment Management Inc. purchased a new position in shares of Pediatrix Medical Group during the 2nd quarter valued at approximately $151,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pediatrix Medical Group news, CEO Mark S. Ordan sold 23,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was 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. The trade was a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael A. Rucker sold 10,478 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $23.00, for a total value of $240,994.00. Following the completion of the sale, the director owned 59,101 shares of the company’s stock, valued at approximately $1,359,323. The trade was a 15.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 43,478 shares of company stock worth $972,924. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MD shares. Wall Street Zen raised shares of Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 4th. Zacks Research lowered shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Truist Financial upped their price target on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. UBS Group raised their price target on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.00.

Pediatrix Medical Group Stock Performance

MD opened at $21.38 on Friday. Pediatrix Medical Group, Inc. has a twelve month low of $11.84 and a twelve month high of $24.99. The firm has a market capitalization of $1.84 billion, a PE ratio of 11.25 and a beta of 0.73. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $22.20 and its 200 day moving average price is $18.73.

Pediatrix Medical Group (NYSE:MD) last released its earnings results on Monday, November 3rd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. As a group, sell-side analysts expect that Pediatrix Medical Group, Inc. will post 1.38 EPS 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.