Alliancebernstein L.P. Lowers Holdings in Pediatrix Medical Group, Inc. $MD

Key Points

• Alliancebernstein L.P. has reduced its stake in Pediatrix Medical Group by 6.8%, now owning 6,852,691 shares, valued at approximately $99.3 million.
• Pediatrix Medical Group recently reported earnings of $0.53 per share, exceeding estimates by $0.11, though revenue fell 7.1% year-over-year.
• Brokerages have raised price targets for Pediatrix, with Zacks issuing a "strong-buy" rating, while the average price target is now $16.79.

Alliancebernstein L.P. trimmed its holdings in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 6.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,852,691 shares of the company's stock after selling 497,798 shares during the quarter. Alliancebernstein L.P. owned 7.98% of Pediatrix Medical Group worth $99,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Pediatrix Medical Group by 219.5% during the 1st quarter. GAMMA Investing LLC now owns 2,569 shares of the company's stock valued at $37,000 after purchasing an additional 1,765 shares during the last quarter. AlphaQuest LLC grew its position in Pediatrix Medical Group by 16.0% during the first quarter. AlphaQuest LLC now owns 5,877 shares of the company's stock valued at $85,000 after buying an additional 811 shares during the period. Tower Research Capital LLC TRC increased its holdings in Pediatrix Medical Group by 218.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,445 shares of the company's stock worth $98,000 after buying 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. Finally, Sherbrooke Park Advisers LLC purchased a new position in Pediatrix Medical Group in the fourth quarter valued at about $136,000. Hedge funds and other institutional investors own 97.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Leerink Partners increased their target price on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the company a "market perform" rating in a research report on Friday, September 5th. Zacks Research raised Pediatrix Medical Group to a "strong-buy" rating in a report on Monday, August 11th. Finally, UBS Group raised their target price on Pediatrix Medical Group from $16.00 to $16.50 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Pediatrix Medical Group has an average rating of "Moderate Buy" and a consensus price target of $16.79.

Pediatrix Medical Group Stock Performance

MD stock traded up $0.47 during midday trading on Thursday, reaching $17.04. 610,131 shares of the company's stock traded hands, compared to its average volume of 777,810. The firm has a market capitalization of $1.48 billion, a PE ratio of 13.21 and a beta of 1.30. The company has a 50-day moving average price of $14.69 and a two-hundred day moving average price of $14.17. Pediatrix Medical Group, Inc. has a 52 week low of $10.39 and a 52 week high of $17.67. 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 (NYSE:MD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $468.84 million during the quarter, compared to analysts' expectations of $464.37 million. During the same period in the previous year, the business earned $0.34 earnings per share. The firm's quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities 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.