Pediatrix Medical Group, Inc. $MD Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Pediatrix Medical Group stake by 28.3% in the first quarter, selling 149,736 shares and retaining 379,873 shares valued at approximately $8.1 million. Institutional investors and hedge funds collectively own 97.71% of the company.
• Pediatrix reported quarterly EPS of $0.63, beating analyst expectations of $0.59, while revenue rose 4.1% year over year to $487.78 million. The company’s full-year EPS is projected at $2.17.
• Shares opened at $26.59, near their 52-week high of $27.94. Analysts maintain a consensus “Hold” rating, with an average price target of $25.00.

Bank of America Corp DE decreased its holdings in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 379,873 shares of the company's stock after selling 149,736 shares during the quarter. Bank of America Corp DE owned 0.46% of Pediatrix Medical Group worth $8,125,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in Pediatrix Medical Group by 68,250.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,367 shares of the company's stock worth $29,000 after purchasing an additional 1,365 shares during the period. Transamerica Financial Advisors LLC bought a new position in shares of Pediatrix Medical Group in the fourth quarter valued at approximately $30,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Pediatrix Medical Group during the fourth quarter valued at approximately $33,000. TD Private Client Wealth LLC acquired a new position in shares of Pediatrix Medical Group during the fourth quarter valued at approximately $39,000. Finally, Los Angeles Capital Management LLC bought a new stake in Pediatrix Medical Group during the fourth quarter worth approximately $43,000. 97.71% of the stock is owned by institutional investors and hedge funds.

Pediatrix Medical Group Price Performance

NYSE MD opened at $26.59 on Tuesday. Pediatrix Medical Group, Inc. has a 1 year low of $15.69 and a 1 year high of $27.94. The business's fifty day moving average is $25.81 and its two-hundred day moving average is $23.02. The stock has a market capitalization of $2.16 billion, a P/E ratio of 12.72 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.32.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 company had revenue of $487.78 million for the quarter, compared to analyst estimates of $478.49 million. During the same period in the previous year, the firm earned $0.53 earnings per share. Pediatrix Medical Group's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts forecast that Pediatrix Medical Group, Inc. will post 2.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MD has been the subject of a number of research reports. Mizuho set a $24.00 price target on Pediatrix Medical Group in a research note on Friday, May 8th. Jefferies Financial Group downgraded Pediatrix Medical Group from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $27.00 to $28.00 in a research note on Wednesday, August 19th. Truist Financial raised their target price on Pediatrix Medical Group from $23.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $25.00 price target on shares of Pediatrix Medical Group in a report on Wednesday, August 5th. Finally, UBS Group raised their price objective on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $25.00.

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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