Bank of New York Mellon Corp Acquires New Shares in Pediatrix Medical Group, Inc. $MD

Key Points

• Bank of New York Mellon acquired 564,419 shares of Pediatrix Medical Group worth approximately $14.3 million, representing about 0.69% of the company. Institutional investors and hedge funds collectively own 97.71% of MD.
• Analysts maintain a broadly neutral outlook: seven analysts rate the stock “Hold,” with an average price target of $25.00. UBS and Jefferies raised their targets to $28, while both Jefferies and Weiss Ratings downgraded the stock to a hold-equivalent rating.
• Pediatrix reported quarterly EPS of $0.63, exceeding estimates by $0.04, while revenue rose 4.1% year over year to $487.78 million. MD opened at $26.49, near its 52-week high of $27.94.

Bank of New York Mellon Corp bought a new stake in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 564,419 shares of the company's stock, valued at approximately $14,297,000. Bank of New York Mellon Corp owned about 0.69% of Pediatrix Medical Group at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Wasatch Advisors LP acquired a new position in Pediatrix Medical Group in the 1st quarter valued at approximately $43,861,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Pediatrix Medical Group by 814.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 594,351 shares of the company's stock worth $12,713,000 after purchasing an additional 529,367 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Pediatrix Medical Group by 175.4% in the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company's stock worth $10,683,000 after purchasing an additional 474,186 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Pediatrix Medical Group by 669.4% in the second quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company's stock valued at $6,832,000 after purchasing an additional 414,216 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in Pediatrix Medical Group by 55.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,143,306 shares of the company's stock worth $19,150,000 after purchasing an additional 407,780 shares during the last quarter. 97.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on MD. Weiss Ratings downgraded Pediatrix Medical Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $25.00 price objective on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. UBS Group upped their target price 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 downgraded shares of Pediatrix Medical Group from a "buy" rating to a "hold" rating and increased their target price for the company from $27.00 to $28.00 in a research report on Wednesday, August 19th. Finally, Mizuho set a $24.00 price target on shares of Pediatrix Medical Group in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Pediatrix Medical Group currently has an average rating of "Hold" and an average target price of $25.00.

Pediatrix Medical Group Price Performance

MD stock opened at $26.49 on Wednesday. The stock has a market capitalization of $2.15 billion, a PE ratio of 12.67 and a beta of 0.64. The company's 50-day moving average is $26.17 and its 200-day moving average is $23.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 1.32. Pediatrix Medical Group, Inc. has a 1 year low of $15.69 and a 1 year high of $27.94.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $487.78 million during the quarter, compared to analysts' expectations of $478.49 million. During the same quarter last year, the firm posted $0.53 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts expect that Pediatrix Medical Group, Inc. will post 2.17 EPS for the current fiscal 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.

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