Pediatrix Medical Group, Inc. $MD Shares Sold by Alliancebernstein L.P.

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. lowered its position in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,852,691 shares of the company's stock after selling 497,798 shares during the period. Alliancebernstein L.P. owned 7.98% of Pediatrix Medical Group worth $99,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Pediatrix Medical Group by 6.2% during the first quarter. Principal Financial Group Inc. now owns 586,190 shares of the company's stock worth $8,494,000 after purchasing an additional 34,266 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Pediatrix Medical Group by 219.5% during the first 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. SG Americas Securities LLC grew its stake in shares of Pediatrix Medical Group by 194.0% during the first quarter. SG Americas Securities LLC now owns 38,405 shares of the company's stock worth $556,000 after purchasing an additional 25,343 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Pediatrix Medical Group by 2.9% during the first quarter. Russell Investments Group Ltd. now owns 219,184 shares of the company's stock worth $3,176,000 after purchasing an additional 6,127 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Pediatrix Medical Group by 53.1% during the fourth quarter. Deutsche Bank AG now owns 74,023 shares of the company's stock worth $971,000 after purchasing an additional 25,663 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MD. Zacks Research raised shares of Pediatrix Medical Group to a "strong-buy" rating in a research report on Monday, August 11th. UBS Group boosted their price target on shares of Pediatrix Medical Group from $16.00 to $16.50 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Finally, Leerink Partners boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.79.

Pediatrix Medical Group Trading Up 0.3%

MD opened at $17.06 on Friday. Pediatrix Medical Group, Inc. has a twelve month low of $10.06 and a twelve month high of $17.67. The company has a 50-day simple moving average of $14.46 and a 200 day simple moving average of $14.13. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 13.22 and a beta of 1.30.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.11. The business had revenue of $468.84 million during the quarter, compared to analysts' expectations of $464.37 million. Pediatrix Medical Group had a net margin of 5.66% and a return on equity of 18.94%. Pediatrix Medical Group's revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. Analysts predict that Pediatrix Medical Group, Inc. will post 1.38 EPS for the current fiscal year.

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.

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