Prudential Financial Inc. Has $9.62 Million Stake in Pediatrix Medical Group, Inc. $MD

Prudential Financial Inc. lowered its position in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 14.9% during the second quarter, HoldingsChannel.com reports. The fund owned 670,321 shares of the company’s stock after selling 117,346 shares during the quarter. Prudential Financial Inc.’s holdings in Pediatrix Medical Group were worth $9,619,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Boston Partners lifted its stake in shares of Pediatrix Medical Group by 1.3% in the 1st quarter. Boston Partners now owns 1,981,889 shares of the company’s stock valued at $27,990,000 after purchasing an additional 25,536 shares during the period. American Century Companies Inc. increased its holdings in Pediatrix Medical Group by 28.6% in the second quarter. American Century Companies Inc. now owns 1,931,867 shares of the company’s stock worth $27,722,000 after purchasing an additional 430,029 shares in the last quarter. Invesco Ltd. lifted its stake in Pediatrix Medical Group by 9.3% in the first quarter. Invesco Ltd. now owns 863,269 shares of the company’s stock valued at $12,509,000 after buying an additional 73,157 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Pediatrix Medical Group by 1.7% during the 1st quarter. Bridgeway Capital Management LLC now owns 554,452 shares of the company’s stock worth $8,034,000 after buying an additional 9,007 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Pediatrix Medical Group during the 1st quarter worth approximately $8,024,000. 97.71% of the stock is owned by institutional investors.

Pediatrix Medical Group Stock Down 2.0%

Pediatrix Medical Group stock opened at $23.97 on Friday. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 18.58 and a beta of 1.20. The firm’s fifty day moving average price is $19.27 and its two-hundred day moving average price is $16.17. Pediatrix Medical Group, Inc. has a 1-year low of $11.84 and a 1-year high of $24.99. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.70.

Pediatrix Medical Group (NYSE:MD) last posted its earnings results on Monday, November 3rd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.46 by $0.21. Pediatrix Medical Group had a net margin of 5.66% and a return on equity of 18.94%. The company had revenue of $492.88 million during the quarter, compared to the consensus estimate of $476.45 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MD shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Tuesday. Truist Financial raised their price target on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Zacks Research upgraded shares of Pediatrix Medical Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 21st. Leerink Partners increased their price objective on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Finally, Wall Street Zen raised Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pediatrix Medical Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Activity at Pediatrix Medical Group

In other news, Director Michael A. Rucker sold 10,478 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $23.00, for a total value of $240,994.00. Following the completion of the sale, the director directly owned 59,101 shares of the company’s stock, valued at $1,359,323. This represents a 15.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura A. Linynsky sold 10,000 shares of Pediatrix Medical Group stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the transaction, the director directly owned 32,232 shares in the company, valued at approximately $697,822.80. The trade was a 23.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.90% of the company’s stock.

Pediatrix Medical Group Profile

Pediatrix Medical Group, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care services in the United States. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians.