Allspring Global Investments Holdings LLC Acquires New Position in Pediatrix Medical Group, Inc. $MD

Allspring Global Investments Holdings LLC bought a new position in Pediatrix Medical Group, Inc. (NYSE:MD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 639,400 shares of the company’s stock, valued at approximately $13,613,000. Allspring Global Investments Holdings LLC owned approximately 0.74% of Pediatrix Medical Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Pediatrix Medical Group by 30.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,126,207 shares of the company’s stock valued at $69,114,000 after acquiring an additional 968,553 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Pediatrix Medical Group by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,399,778 shares of the company’s stock valued at $56,942,000 after purchasing an additional 81,554 shares during the period. American Century Companies Inc. increased its position in Pediatrix Medical Group by 38.9% during the third quarter. American Century Companies Inc. now owns 2,682,976 shares of the company’s stock worth $44,940,000 after purchasing an additional 751,109 shares during the last quarter. Boston Partners increased its position in Pediatrix Medical Group by 0.6% during the third quarter. Boston Partners now owns 1,427,953 shares of the company’s stock worth $24,063,000 after purchasing an additional 8,335 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Pediatrix Medical Group by 55.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,143,306 shares of the company’s stock worth $19,150,000 after purchasing an additional 407,780 shares during the period. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on MD shares. Deutsche Bank Aktiengesellschaft set a $19.00 price target on shares of Pediatrix Medical Group in a research report on Friday, February 20th. UBS Group cut their target price 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. Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Friday, March 27th. Jefferies Financial Group raised Pediatrix Medical Group to a “strong-buy” rating in a research note on Thursday, March 12th. Finally, Truist Financial lowered their price target on Pediatrix Medical Group from $24.00 to $21.00 and set a “hold” rating for the company in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.80.

Pediatrix Medical Group Stock Performance

NYSE MD opened at $21.19 on Friday. The company has a market cap of $1.76 billion, a P/E ratio of 10.92 and a beta of 0.72. 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 stock has a 50-day moving average of $20.46 and a two-hundred day moving average of $20.41. Pediatrix Medical Group, Inc. has a 1-year low of $11.84 and a 1-year high of $24.99.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). Pediatrix Medical Group had a return on equity of 19.59% and a net margin of 8.64%.The business had revenue of $493.77 million for the quarter, compared to analyst estimates of $486.23 million. The firm’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 company posted $0.51 EPS. As a group, analysts anticipate that Pediatrix Medical Group, Inc. will post 1.38 EPS for the current 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.