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

Allspring Global Investments Holdings LLC increased its holdings in Pediatrix Medical Group, Inc. (NYSE:MD) by 52.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 975,133 shares of the company’s stock after acquiring an additional 335,733 shares during the period. Allspring Global Investments Holdings LLC owned about 1.17% of Pediatrix Medical Group worth $20,185,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Global Retirement Partners LLC raised its position 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 valued at $29,000 after buying an additional 1,365 shares during the last quarter. Transamerica Financial Advisors LLC purchased a new position in Pediatrix Medical Group during the 4th quarter worth $30,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Pediatrix Medical Group in the 4th quarter worth $33,000. Blue Trust Inc. bought a new stake in shares of Pediatrix Medical Group in the 4th quarter worth $37,000. Finally, TD Private Client Wealth LLC purchased a new stake in shares of Pediatrix Medical Group in the fourth quarter valued at about $39,000. Institutional investors own 97.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MD shares. UBS Group raised their price target on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a research note on Monday, April 20th. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a research report on Friday, May 8th. 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 note on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.33.

Insiders Place Their Bets

In other Pediatrix Medical Group news, Director Shirley A. Weis sold 36,028 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total transaction of $855,665.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Pediatrix Medical Group Price Performance

Pediatrix Medical Group stock opened at $25.66 on Tuesday. The business’s 50 day simple moving average is $23.96 and its 200 day simple moving average is $22.22. Pediatrix Medical Group, Inc. has a 12 month low of $11.84 and a 12 month high of $27.94. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 12.45 and a beta of 0.66. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45.

Pediatrix Medical Group (NYSE:MD) last released its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $465.83 million. During the same period last year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current year.

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.