Nuveen LLC Takes Position in Pediatrix Medical Group, Inc. $MD

Key Points

• Nuveen LLC has acquired a significant position in Pediatrix Medical Group, purchasing 553,742 shares valued at approximately $8,024,000, representing around 0.64% ownership in the company.
• Wall Street analysts have shown optimism, with Zacks Research upgrading the stock to a "strong-buy" rating and the consensus target price set at $16.75.
• Pediatrix recently surpassed earnings expectations, reporting $0.53 earnings per share for the quarter, exceeding estimates by $0.11, despite a 7.1% year-over-year drop in revenue.

Nuveen LLC acquired a new position in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 553,742 shares of the company's stock, valued at approximately $8,024,000. Nuveen LLC owned 0.64% of Pediatrix Medical Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Pediatrix Medical Group by 219.5% in the 1st quarter. GAMMA Investing LLC now owns 2,569 shares of the company's stock valued at $37,000 after buying an additional 1,765 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Pediatrix Medical Group by 218.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,445 shares of the company's stock worth $98,000 after purchasing an additional 5,104 shares during the period. Squarepoint Ops LLC bought a new stake in Pediatrix Medical Group in the fourth quarter worth about $132,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Pediatrix Medical Group in the 4th quarter valued at about $136,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Pediatrix Medical Group during the first quarter worth approximately $159,000. 97.71% of the stock is owned by hedge funds and other institutional investors.

Pediatrix Medical Group Trading Down 0.3%

Shares of NYSE:MD traded down $0.05 during trading hours on Tuesday, hitting $17.01. 811,712 shares of the company's stock traded hands, compared to its average volume of 911,081. The business has a fifty day moving average price of $13.90 and a 200-day moving average price of $13.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.80 and a quick ratio of 1.80. Pediatrix Medical Group, Inc. has a 1 year low of $10.06 and a 1 year high of $17.67. The firm has a market capitalization of $1.48 billion, a P/E ratio of 13.19 and a beta of 1.21.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. Pediatrix Medical Group had a return on equity of 18.94% and a net margin of 5.66%.The business had revenue of $468.84 million for the quarter, compared to the consensus estimate of $464.37 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The business's quarterly revenue was down 7.1% on a year-over-year basis. Equities analysts expect that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current year.

Analyst Ratings Changes

MD has been the topic of several recent analyst reports. Zacks Research upgraded Pediatrix Medical Group to a "strong-buy" rating in a report on Monday, August 11th. Macquarie upped their target price on Pediatrix Medical Group from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, UBS Group increased their target price on Pediatrix Medical Group from $16.00 to $16.50 and gave the company a "neutral" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.75.

About Pediatrix Medical Group

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.