Intech Investment Management LLC Sells 28,779 Shares of Pediatrix Medical Group, Inc. $MD

Intech Investment Management LLC lessened its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 32.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,104 shares of the company’s stock after selling 28,779 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Pediatrix Medical Group worth $990,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dana Investment Advisors Inc. raised its holdings in shares of Pediatrix Medical Group by 5.6% during the third quarter. Dana Investment Advisors Inc. now owns 801,462 shares of the company’s stock valued at $13,424,000 after purchasing an additional 42,162 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Pediatrix Medical Group by 20.1% in the third quarter. Hillsdale Investment Management Inc. now owns 452,200 shares of the company’s stock worth $7,574,000 after purchasing an additional 75,700 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Pediatrix Medical Group by 25.8% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,989 shares of the company’s stock worth $251,000 after purchasing an additional 3,076 shares during the period. JPMorgan Chase & Co. grew its position in Pediatrix Medical Group by 20.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 827,075 shares of the company’s stock worth $13,854,000 after purchasing an additional 140,577 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Pediatrix Medical Group by 4.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,525 shares of the company’s stock valued at $243,000 after buying an additional 631 shares during the last quarter. 97.71% of the stock is currently owned by institutional investors.

Pediatrix Medical Group Trading Up 2.6%

Shares of MD stock opened at $19.79 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 10.20 and a beta of 0.79. Pediatrix Medical Group, Inc. has a 1 year low of $11.84 and a 1 year high of $24.99. The firm has a fifty day moving average price of $21.11 and a 200-day moving average price of $19.95.

Pediatrix Medical Group (NYSE:MD) last announced its earnings results on Thursday, February 19th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $493.77 million during the quarter, compared to the consensus estimate of $486.23 million. Pediatrix Medical Group had a return on equity of 19.59% and a net margin of 8.64%.Pediatrix Medical Group’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts predict that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Pediatrix Medical Group

In other news, CEO Mark S. Ordan sold 23,000 shares of Pediatrix Medical Group stock in a transaction dated 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 directly owned 302,805 shares of the company’s stock, valued at $6,785,860.05. The trade was a 7.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MD has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Monday, December 29th. Zacks Research cut Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft set a $19.00 target price on Pediatrix Medical Group in a report on Friday, February 20th. Truist Financial dropped their target price on Pediatrix Medical Group from $24.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, February 19th. Finally, UBS Group cut their price target on Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.80.

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.