Wedge Capital Management L L P NC Cuts Stock Holdings in Pediatrix Medical Group, Inc. $MD

Wedge Capital Management L L P NC reduced its stake in Pediatrix Medical Group, Inc. (NYSE:MD) by 16.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,110 shares of the company’s stock after selling 21,750 shares during the period. Wedge Capital Management L L P NC owned about 0.13% of Pediatrix Medical Group worth $2,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Teacher Retirement System of Texas boosted its stake in shares of Pediatrix Medical Group by 25.6% during the 4th quarter. Teacher Retirement System of Texas now owns 306,715 shares of the company’s stock valued at $6,561,000 after purchasing an additional 62,446 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Pediatrix Medical Group in the fourth quarter worth $768,000. Burney Co. purchased a new stake in Pediatrix Medical Group during the 1st quarter valued at about $1,129,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Pediatrix Medical Group by 139.1% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 69,069 shares of the company’s stock valued at $1,493,000 after acquiring an additional 40,176 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Pediatrix Medical Group by 52.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 975,133 shares of the company’s stock worth $20,185,000 after purchasing an additional 335,733 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Down 0.4%

Shares of NYSE MD opened at $26.40 on Friday. Pediatrix Medical Group, Inc. has a 12-month low of $15.27 and a 12-month high of $27.94. The stock has a market capitalization of $2.15 billion, a PE ratio of 12.63 and a beta of 0.66. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $25.41 and its two-hundred day simple moving average is $22.76.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $487.78 million for the quarter, compared to the consensus estimate of $478.49 million. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, analysts expect that Pediatrix Medical Group, Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on MD shares. UBS Group lifted their price target on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $25.00 price objective on shares of Pediatrix Medical Group in a report on Wednesday, August 5th. Truist Financial lifted their price objective on shares of 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 upgraded Pediatrix Medical Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.83.

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.