Pacer Advisors Inc. Cuts Holdings in Pediatrix Medical Group, Inc. (NYSE:MD)

Key Points

• Pacer Advisors Inc. reduced its holdings in Pediatrix Medical Group by 63.3%, selling over 1.7 million shares, and now owns approximately 1.16% of the company valued at $14.4 million.
• Pediatrix Medical Group reported earnings of $0.33 per share, exceeding estimates, but experienced a 7.4% year-over-year decline in revenue, totaling $458.36 million.
• Institutional investors hold approximately 97.71% of Pediatrix Medical Group's stock, with several firms actively increasing their stakes in the company during the fourth quarter.

Pacer Advisors Inc. trimmed its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 63.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 992,948 shares of the company's stock after selling 1,712,203 shares during the quarter. Pacer Advisors Inc. owned about 1.16% of Pediatrix Medical Group worth $14,388,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Pediatrix Medical Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 10,812,611 shares of the company's stock worth $141,861,000 after buying an additional 113,976 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Pediatrix Medical Group by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,947,796 shares of the company's stock worth $25,562,000 after buying an additional 11,045 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Pediatrix Medical Group by 628.2% during the 4th quarter. American Century Companies Inc. now owns 1,739,323 shares of the company's stock worth $22,820,000 after buying an additional 1,500,485 shares during the last quarter. Northern Trust Corp raised its position in Pediatrix Medical Group by 18.0% in the fourth quarter. Northern Trust Corp now owns 966,347 shares of the company's stock valued at $12,678,000 after purchasing an additional 147,522 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Pediatrix Medical Group by 117.4% in the fourth quarter. Renaissance Technologies LLC now owns 838,800 shares of the company's stock valued at $11,005,000 after buying an additional 453,000 shares during the period. 97.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MD. Truist Financial decreased their target price on Pediatrix Medical Group from $18.00 to $16.00 and set a "hold" rating for the company in a research note on Friday, April 11th. UBS Group reduced their price objective on Pediatrix Medical Group from $18.50 to $16.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Finally, Macquarie raised their price objective on Pediatrix Medical Group from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $16.67.

Pediatrix Medical Group Stock Down 0.6%

Shares of NYSE:MD traded down $0.07 during mid-day trading on Wednesday, hitting $12.60. 49,950 shares of the company traded hands, compared to its average volume of 727,934. The stock has a 50-day moving average price of $13.60 and a two-hundred day moving average price of $13.87. The stock has a market cap of $1.08 billion, a P/E ratio of -12.50 and a beta of 1.25. Pediatrix Medical Group, Inc. has a 12-month low of $7.47 and a 12-month high of $17.67. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.75.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. The firm had revenue of $458.36 million for the quarter, compared to analyst estimates of $451.44 million. Pediatrix Medical Group had a positive return on equity of 17.43% and a negative net margin of 4.17%. The business's revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. On average, equities research analysts forecast that Pediatrix Medical Group, Inc. will post 1.38 earnings per share 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.