Allianz Asset Management GmbH Sells 27,600 Shares of Pediatrix Medical Group, Inc. (NYSE:MD)

Key Points

• Allianz Asset Management GmbH reduced its stake in Pediatrix Medical Group by 53.8%, selling 27,600 shares and leaving them with 23,700 shares valued at approximately $343,000.
• Institutional investors own 97.71% of Pediatrix Medical Group, with significant changes from other hedge funds, including Nomura Asset Management and GAMMA Investing, increasing their investments substantially.
• Pediatrix Medical Group reported a quarterly earnings per share of $0.33, exceeding expectations, but noted a revenue decline of 7.4% year-over-year, with a current market capitalization of $1.03 billion.

Allianz Asset Management GmbH trimmed its position in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 53.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the company's stock after selling 27,600 shares during the period. Allianz Asset Management GmbH's holdings in Pediatrix Medical Group were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MD. KLP Kapitalforvaltning AS bought a new position in shares of Pediatrix Medical Group during the 4th quarter valued at about $235,000. LPL Financial LLC increased its stake in shares of Pediatrix Medical Group by 4.9% during the fourth quarter. LPL Financial LLC now owns 92,828 shares of the company's stock valued at $1,218,000 after buying an additional 4,295 shares during the period. Vanguard Group Inc. increased its position in Pediatrix Medical Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,812,611 shares of the company's stock valued at $141,861,000 after purchasing an additional 113,976 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Pediatrix Medical Group by 95.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,500 shares of the company's stock valued at $33,000 after buying an additional 1,220 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in Pediatrix Medical Group by 63.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,590 shares of the company's stock worth $191,000 after buying an additional 5,677 shares during the period. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Pediatrix Medical Group Stock Up 8.7%

NYSE:MD traded up $1.13 during trading hours on Wednesday, reaching $14.05. 1,031,409 shares of the company traded hands, compared to its average volume of 736,758. Pediatrix Medical Group, Inc. has a 1 year low of $9.08 and a 1 year high of $17.67. The stock has a market capitalization of $1.21 billion, a P/E ratio of -13.86 and a beta of 1.21. The business's 50-day moving average price is $13.39 and its two-hundred day moving average price is $13.82. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.75.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.08. The company had revenue of $458.36 million for the quarter, compared to analysts' expectations of $451.44 million. Pediatrix Medical Group had a negative net margin of 4.17% and a positive return on equity of 17.43%. Pediatrix Medical Group's revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS. Analysts predict that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MD shares. UBS Group decreased their target price on Pediatrix Medical Group from $18.50 to $16.00 and set a "neutral" rating for the company in a research report on Monday, May 12th. Truist Financial decreased their price objective on Pediatrix Medical Group from $18.00 to $16.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Macquarie boosted their target price on shares of Pediatrix Medical Group from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Pediatrix Medical Group currently has an average rating of "Hold" and a consensus target price of $16.67.

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.