Fifth Third Bancorp Purchases 61,528 Shares of Pediatrix Medical Group, Inc. $MD

Key Points

• Fifth Third Bancorp dramatically increased its stake in Pediatrix Medical Group, buying 61,528 shares in Q1 and lifting its holdings by 7,643.2% to 62,333 shares valued at about $1.33 million.
• Institutional ownership remains very high, with several other funds also adding to or starting positions in the company; 97.71% of the stock is held by institutional investors.
• Pediatrix Medical Group recently reported better-than-expected quarterly results, with EPS of $0.44 and revenue of $476.2 million, while analysts currently rate the stock as a Hold with a consensus price target of $23.33.

Fifth Third Bancorp lifted its position in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 7,643.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,333 shares of the company's stock after buying an additional 61,528 shares during the period. Fifth Third Bancorp owned about 0.08% of Pediatrix Medical Group worth $1,333,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Phocas Financial Corp. raised its holdings in shares of Pediatrix Medical Group by 44.5% in the fourth quarter. Phocas Financial Corp. now owns 335,551 shares of the company's stock valued at $7,177,000 after purchasing an additional 103,328 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Pediatrix Medical Group during the fourth quarter worth $2,163,000. Allspring Global Investments Holdings LLC bought a new position in Pediatrix Medical Group in the fourth quarter valued at $13,613,000. Teacher Retirement System of Texas grew its position in Pediatrix Medical Group by 25.6% in the fourth quarter. Teacher Retirement System of Texas now owns 306,715 shares of the company's stock valued at $6,561,000 after purchasing an additional 62,446 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Pediatrix Medical Group by 20.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 827,075 shares of the company's stock valued at $13,854,000 after buying an additional 140,577 shares during the last quarter. 97.71% of the stock is currently owned by institutional investors.

Insider Activity at Pediatrix Medical Group

In related news, Director Shirley A. Weis sold 36,028 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total value of $855,665.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

Pediatrix Medical Group Stock Up 2.6%

MD opened at $26.25 on Friday. The stock's fifty day simple moving average is $24.17 and its 200 day simple moving average is $22.34. Pediatrix Medical Group, Inc. has a 1-year low of $11.84 and a 1-year high of $27.94. The stock has a market cap of $2.16 billion, a PE ratio of 12.74 and a beta of 0.66. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.07. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. The firm had revenue of $476.20 million during the quarter, compared to analysts' expectations of $465.83 million. During the same period in the previous year, the business posted $0.33 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts expect that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current year.

Analyst Ratings Changes

MD has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a "buy" rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a research note on Monday, April 20th. Truist Financial upped their price target on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, July 14th. UBS Group increased their price target on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, May 12th. Mizuho set a $24.00 price objective on shares of Pediatrix Medical Group in a research report on Friday, May 8th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Pediatrix Medical Group in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $23.33.

About Pediatrix Medical Group

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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