Jennison Associates LLC Has $1.30 Million Position in Pediatrix Medical Group, Inc. $MD

Jennison Associates LLC lifted its holdings in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 69.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,846 shares of the company’s stock after purchasing an additional 24,950 shares during the period. Jennison Associates LLC owned 0.07% of Pediatrix Medical Group worth $1,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in Pediatrix Medical Group by 68,250.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,367 shares of the company’s stock worth $29,000 after buying an additional 1,365 shares in the last quarter. Transamerica Financial Advisors LLC acquired a new stake in Pediatrix Medical Group in the 4th quarter valued at about $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in Pediatrix Medical Group in the 4th quarter valued at about $33,000. Blue Trust Inc. bought a new position 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 worth about $39,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pediatrix Medical Group

In other Pediatrix Medical Group news, Director Shirley A. Weis sold 36,028 shares of Pediatrix Medical Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total transaction of $855,665.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Pediatrix Medical Group Stock Down 1.1%

Shares of NYSE MD opened at $25.86 on Thursday. The firm has a market capitalization of $2.12 billion, a PE ratio of 12.56 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, Inc. has a 1 year low of $11.84 and a 1 year high of $27.94. The firm’s 50-day moving average is $24.05 and its 200-day moving average is $22.28.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $476.20 million during the quarter, compared to analysts’ expectations of $465.83 million. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. Pediatrix Medical Group’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. Equities analysts expect that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.