Ieq Capital LLC Purchases New Position in Pediatrix Medical Group, Inc. $MD

Ieq Capital LLC purchased a new position in Pediatrix Medical Group, Inc. (NYSE:MD) in the second quarter, HoldingsChannel reports. The fund purchased 31,950 shares of the company’s stock, valued at approximately $809,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in Pediatrix Medical Group during the 2nd quarter valued at approximately $347,383,000. Wasatch Advisors LP bought a new position in shares of Pediatrix Medical Group in the 1st quarter worth approximately $43,861,000. Bank of New York Mellon Corp purchased a new position in shares of Pediatrix Medical Group in the 2nd quarter valued at approximately $14,297,000. Rockefeller Capital Management L.P. lifted its stake in shares of Pediatrix Medical Group by 814.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 594,351 shares of the company’s stock valued at $12,713,000 after purchasing an additional 529,367 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Pediatrix Medical Group by 175.4% during the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock valued at $10,683,000 after purchasing an additional 474,186 shares in the last quarter. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Pediatrix Medical Group Trading Down 0.5%

Shares of NYSE MD opened at $26.81 on Friday. The firm’s 50 day moving average price is $26.00 and its 200-day moving average price is $23.15. The company has a market cap of $2.18 billion, a PE ratio of 12.83 and a beta of 0.66. Pediatrix Medical Group, Inc. has a 52-week low of $15.69 and a 52-week high of $27.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.32.

Pediatrix Medical Group (NYSE:MD) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. The company had revenue of $487.78 million during the quarter, compared to the consensus estimate of $478.49 million. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Pediatrix Medical Group, Inc. will post 2.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Mizuho set a $24.00 price target on Pediatrix Medical Group in a research note on Friday, May 8th. UBS Group raised their price objective on Pediatrix Medical Group from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Truist Financial boosted their target price on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Pediatrix Medical Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $25.00 price target on shares of Pediatrix Medical Group in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

Pediatrix Medical Group 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.