Connor Clark & Lunn Investment Management Ltd. Decreases Position in Pediatrix Medical Group, Inc. $MD

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Pediatrix Medical Group by 46.6%, selling nearly 40,000 shares, and now holds approximately $663,000 worth of the stock.
• Several other institutional investors have either increased their stakes dramatically, such as GAMMA Investing LLC with a 219.5% increase, or established new positions worth over $130,000 in the company.
• Pediatrix Medical Group recently reported earnings of $0.53 per share, exceeding analyst estimates and showing a 7.1% decline in quarterly revenue compared to the previous year.

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 46.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,761 shares of the company's stock after selling 39,997 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Pediatrix Medical Group worth $663,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Pediatrix Medical Group during the first quarter valued at $159,000. Natixis Advisors LLC raised its stake in shares of Pediatrix Medical Group by 8.1% in the first quarter. Natixis Advisors LLC now owns 19,156 shares of the company's stock worth $278,000 after purchasing an additional 1,435 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Pediatrix Medical Group by 246.5% in the first quarter. XTX Topco Ltd now owns 44,752 shares of the company's stock worth $648,000 after purchasing an additional 31,835 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Pediatrix Medical Group by 82.7% in the first quarter. Mackenzie Financial Corp now owns 38,399 shares of the company's stock worth $556,000 after purchasing an additional 17,376 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Pediatrix Medical Group by 55.5% in the first quarter. LPL Financial LLC now owns 144,318 shares of the company's stock worth $2,091,000 after purchasing an additional 51,490 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MD shares. Macquarie boosted their price target on Pediatrix Medical Group from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Zacks Research upgraded Pediatrix Medical Group to a "strong-buy" rating in a research note on Monday, August 11th. Finally, UBS Group boosted their price target on Pediatrix Medical Group from $16.00 to $16.50 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.75.

Pediatrix Medical Group Stock Performance

NYSE:MD traded up $0.8230 during mid-day trading on Friday, hitting $16.9730. 1,202,404 shares of the company traded hands, compared to its average volume of 857,074. The stock's fifty day moving average price is $13.76 and its 200-day moving average price is $13.93. Pediatrix Medical Group, Inc. has a one year low of $10.06 and a one year high of $17.67. 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 firm has a market cap of $1.48 billion, a price-to-earnings ratio of 13.16 and a beta of 1.21.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.11. The firm had revenue of $468.84 million during 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 business's quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. Research analysts anticipate that Pediatrix Medical Group, Inc. will post 1.38 earnings per share 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.