Allspring Global Investments Holdings LLC Buys 335,733 Shares of Pediatrix Medical Group, Inc. $MD

Allspring Global Investments Holdings LLC increased its stake in Pediatrix Medical Group, Inc. (NYSE:MD) by 52.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 975,133 shares of the company’s stock after purchasing an additional 335,733 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pediatrix Medical Group were worth $20,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC boosted 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 purchasing an additional 1,365 shares during the period. Transamerica Financial Advisors LLC bought a new stake in shares of Pediatrix Medical Group during the fourth quarter valued at about $30,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Pediatrix Medical Group during the fourth quarter valued at about $33,000. Blue Trust Inc. purchased a new stake in shares of Pediatrix Medical Group in the fourth quarter worth about $37,000. Finally, TD Private Client Wealth LLC bought a new position in shares of Pediatrix Medical Group in the fourth quarter valued at approximately $39,000. 97.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MD has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $27.00 price target on shares of Pediatrix Medical Group in a report on Monday, April 20th. Mizuho set a $24.00 price objective on Pediatrix Medical Group in a research report on Friday, May 8th. UBS Group lifted their price objective on Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Truist Financial boosted their target price on Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Pediatrix Medical Group presently has an average rating of “Hold” and a consensus target price of $23.33.

Insider Buying and Selling at Pediatrix Medical Group

In related news, Director Shirley A. Weis sold 36,028 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total value of $855,665.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Pediatrix Medical Group Stock Down 1.8%

Shares of NYSE:MD opened at $25.66 on Tuesday. The firm has a market capitalization of $2.11 billion, a PE ratio of 12.45 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. Pediatrix Medical Group, Inc. has a 52-week low of $11.84 and a 52-week high of $27.94. The firm has a fifty day moving average of $23.96 and a 200 day moving average of $22.22.

Pediatrix Medical Group (NYSE:MD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $476.20 million for the quarter, compared to the consensus estimate of $465.83 million. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal year.

Pediatrix Medical Group Company 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.