BlackRock Inc. Takes $347.38 Million Position in Pediatrix Medical Group, Inc. $MD

BlackRock Inc. purchased a new stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) during the 2nd quarter, Holdings Channel reports. The fund purchased 13,714,275 shares of the company’s stock, valued at approximately $347,383,000. BlackRock Inc. owned 0.17% of Pediatrix Medical Group at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MD. Royal Bank of Canada lifted its stake in Pediatrix Medical Group by 23.8% in the 1st quarter. Royal Bank of Canada now owns 22,097 shares of the company’s stock valued at $320,000 after purchasing an additional 4,247 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pediatrix Medical Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company’s stock worth $743,000 after buying an additional 2,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Pediatrix Medical Group by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,506 shares of the company’s stock worth $3,891,000 after buying an additional 12,171 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Pediatrix Medical Group during the second quarter worth $145,000. Finally, Quantbot Technologies LP bought a new position in shares of Pediatrix Medical Group in the 2nd quarter valued at $99,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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 report on Thursday, August 6th. Jefferies Financial Group cut Pediatrix Medical Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $27.00 to $28.00 in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $25.00 target price on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. Weiss Ratings upgraded Pediatrix Medical Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Finally, Truist Financial upped their price objective 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 six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.00.

Pediatrix Medical Group Stock Up 1.7%

Shares of MD opened at $27.06 on Wednesday. The company has a market capitalization of $2.20 billion, a PE ratio of 12.95 and a beta of 0.66. Pediatrix Medical Group, Inc. has a 12 month low of $15.69 and a 12 month high of $27.94. The stock’s 50-day moving average price is $25.87 and its two-hundred day moving average price is $23.07. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45.

Pediatrix Medical Group (NYSE:MD) last issued 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 return on equity of 20.05% and a net margin of 8.96%.The company had revenue of $487.78 million during the quarter, compared to analysts’ expectations of $478.49 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts anticipate that Pediatrix Medical Group, Inc. will post 2.17 EPS for the current year.

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.