309,413 Shares of Pediatrix Medical Group, Inc. $MD Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 309,413 shares of Pediatrix Medical Group in the second quarter, valued at approximately $7.8 million and representing about 0.38% of the company.
• Institutional ownership remains high at 97.71%, with BlackRock, Dimensional Fund Advisors, Wasatch Advisors, Renaissance Technologies, and Allspring also increasing or initiating positions.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a $26.60 target price. Pediatrix recently beat quarterly earnings expectations, reporting $0.63 EPS and $487.8 million in revenue, up 4.1% year over year.

Bank of America Corp DE purchased a new position in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 309,413 shares of the company's stock, valued at approximately $7,837,000. Bank of America Corp DE owned approximately 0.38% of Pediatrix Medical Group as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Pediatrix Medical Group in the 2nd quarter worth approximately $347,383,000. Dimensional Fund Advisors LP lifted its stake in shares of Pediatrix Medical Group by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,856,915 shares of the company's stock valued at $82,496,000 after buying an additional 287,696 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Pediatrix Medical Group by 21.9% during the 2nd quarter. Wasatch Advisors LP now owns 2,498,884 shares of the company's stock valued at $63,297,000 after buying an additional 448,360 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Pediatrix Medical Group by 12.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,532,300 shares of the company's stock worth $32,776,000 after buying an additional 174,600 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in 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 buying an additional 335,733 shares during the period. Institutional investors own 97.71% of the company's stock.

Wall Street Analysts Forecast Growth

MD has been the subject of several research analyst reports. Jefferies Financial Group cut Pediatrix Medical Group from a "buy" rating to a "hold" rating and increased their target price for the stock from $27.00 to $28.00 in a research report on Wednesday, August 19th. Truist Financial boosted their price target on Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, July 14th. UBS Group upped their price target on Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $25.00 price objective on shares of Pediatrix Medical Group in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Pediatrix Medical Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.60.

Pediatrix Medical Group Trading Up 2.4%

Shares of MD opened at $26.29 on Friday. The company's fifty day moving average is $26.39 and its 200 day moving average is $24.03. Pediatrix Medical Group, Inc. has a fifty-two week low of $15.69 and a fifty-two week high of $27.94. The stock has a market capitalization of $2.14 billion, a PE ratio of 12.58 and a beta of 0.64. 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 - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share 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 business's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. Sell-side analysts expect that Pediatrix Medical Group, Inc. will post 2.17 earnings per share for the current fiscal year.

Pediatrix Medical Group Profile

Pediatrix Medical Group, Inc is a physician-led healthcare services company that provides specialized medical care for women, infants and children. The company partners with hospitals and health systems to deliver care through physician practices, neonatal intensive care units and other hospital-based programs.

Its services include neonatology, maternal-fetal medicine, pediatric cardiology, pediatric critical care, pediatric hospital medicine and other pediatric subspecialties. Pediatrix physicians care for patients before, during and after childbirth, as well as children requiring specialized or critical care.

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