Pediatrix Medical Group, Inc. $MD Shares Sold by Connor Clark & Lunn Investment Management Ltd.

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. reduced its position in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 46.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,761 shares of the company's stock after selling 39,997 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Pediatrix Medical Group worth $663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in 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 during the last quarter. Tower Research Capital LLC TRC increased its position 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 purchasing an additional 5,104 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Pediatrix Medical Group during the fourth quarter worth about $132,000. Sherbrooke Park Advisers LLC acquired a new stake in Pediatrix Medical Group in the fourth quarter valued at approximately $136,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Pediatrix Medical Group in the first quarter valued at approximately $159,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Pediatrix Medical Group Price Performance

Shares of NYSE:MD traded up $0.76 during midday trading on Friday, hitting $16.91. 786,666 shares of the stock were exchanged, compared to its average volume of 752,420. The stock has a market cap of $1.47 billion, a P/E ratio of 13.10 and a beta of 1.21. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.70. 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 moving average price of $13.70 and a 200-day moving average price of $13.91.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.53 earnings per share (EPS) 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 the consensus estimate 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 revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. On average, research analysts forecast that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current year.

Pediatrix Medical Group Company 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.