Northern Trust Corp Trims Holdings in Pediatrix Medical Group, Inc. $MD

Key Points

• Northern Trust Corp reduced its holdings in Pediatrix Medical Group by 2.1%, selling 20,347 shares and retaining a total of 946,000 shares worth approximately $13.7 million.
• Pediatrix Medical Group reported a EPS of $0.53 for the latest quarter, exceeding analysts' expectations, despite a 7.1% decline in quarterly revenue year-over-year.
• Wall Street analysts have a "Moderate Buy" rating for Pediatrix Medical Group, with an average price target of $16.75, reflecting optimism about the company's performance.

Northern Trust Corp trimmed its stake in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 946,000 shares of the company's stock after selling 20,347 shares during the quarter. Northern Trust Corp owned approximately 1.10% of Pediatrix Medical Group worth $13,708,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Pediatrix Medical Group by 219.5% in the 1st quarter. GAMMA Investing LLC now owns 2,569 shares of the company's stock worth $37,000 after purchasing an additional 1,765 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 last quarter. 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 stake in Pediatrix Medical Group during the fourth quarter worth $136,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Pediatrix Medical Group during the first quarter worth $159,000. 97.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

MD has been the subject of several research analyst reports. Zacks Research upgraded shares of Pediatrix Medical Group to a "strong-buy" rating in a research note on Monday, August 11th. UBS Group boosted their price objective on Pediatrix Medical Group from $16.00 to $16.50 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Finally, Leerink Partners boosted their price objective on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the company a "market perform" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.79.

Pediatrix Medical Group Price Performance

MD traded up $0.08 on Monday, hitting $17.15. 287,691 shares of the company were exchanged, compared to its average volume of 756,836. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.80 and a current ratio of 1.80. Pediatrix Medical Group, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $17.67. The business's fifty day moving average is $14.46 and its 200 day moving average is $14.11. The firm has a market capitalization of $1.49 billion, a P/E ratio of 13.28 and a beta of 1.29.

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

Pediatrix Medical Group Profile

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.