Bank of New York Mellon Corp Lowers Position in Pediatrix Medical Group, Inc. $MD

Bank of New York Mellon Corp lowered its stake in Pediatrix Medical Group, Inc. (NYSE:MD) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 605,240 shares of the company’s stock after selling 3,576 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of Pediatrix Medical Group worth $8,685,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MD. AlphaQuest LLC lifted its stake in Pediatrix Medical Group by 16.0% during the first quarter. AlphaQuest LLC now owns 5,877 shares of the company’s stock worth $85,000 after purchasing an additional 811 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Pediatrix Medical Group by 8.7% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,913 shares of the company’s stock valued at $171,000 after buying an additional 950 shares during the period. SummerHaven Investment Management LLC lifted its stake in Pediatrix Medical Group by 1.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 113,480 shares of the company’s stock worth $1,628,000 after acquiring an additional 1,153 shares in the last quarter. Atria Investments Inc boosted its holdings in Pediatrix Medical Group by 9.4% during the 2nd quarter. Atria Investments Inc now owns 16,435 shares of the company’s stock valued at $236,000 after acquiring an additional 1,411 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Pediatrix Medical Group by 8.1% during the 1st quarter. Natixis Advisors LLC now owns 19,156 shares of the company’s stock valued at $278,000 after acquiring an additional 1,435 shares during the period. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Pediatrix Medical Group Trading Down 1.0%

Shares of Pediatrix Medical Group stock opened at $22.70 on Friday. The company has a 50-day moving average of $18.35 and a two-hundred day moving average of $15.76. The stock has a market cap of $1.95 billion, a PE ratio of 17.60 and a beta of 1.20. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.70. Pediatrix Medical Group, Inc. has a 12-month low of $11.84 and a 12-month high of $24.00.

Pediatrix Medical Group (NYSE:MD) last released its quarterly 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. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%.The company had revenue of $492.88 million during the quarter, compared to analysts’ expectations of $476.45 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Pediatrix Medical Group, Inc. will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling at Pediatrix Medical Group

In other Pediatrix Medical Group news, Director Michael A. Rucker sold 10,478 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $23.00, for a total value of $240,994.00. Following the transaction, the director owned 59,101 shares of the company’s stock, valued at $1,359,323. This trade represents a 15.06% 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, Director Laura A. Linynsky sold 10,000 shares of the firm’s 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 completion of the sale, the director directly owned 32,232 shares in the company, valued at approximately $697,822.80. This trade represents a 23.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MD. Zacks Research lowered shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Leerink Partners increased their target price on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Wednesday. Truist Financial upped their price objective on Pediatrix Medical Group from $17.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. Finally, Wall Street Zen upgraded Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

Pediatrix Medical Group Profile

Pediatrix Medical Group, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care services in the United States. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians.