Ritholtz Wealth Management Raises Position in Pediatrix Medical Group, Inc. $MD

Key Points

• Ritholtz Wealth Management increased its Pediatrix Medical Group stake by 42.1% in the first quarter, buying 42,553 shares and bringing its total holding to 143,668 shares worth about $3.07 million.
• Pediatrix Medical Group reported better-than-expected quarterly results, with EPS of $0.44 versus analyst estimates of $0.37 and revenue of $476.2 million versus expectations of $465.83 million.
• Analysts currently have a Hold consensus on MD, with an average price target of $22.50, while the stock recently traded near its 52-week high at $24.60.

Ritholtz Wealth Management lifted its position in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 42.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 143,668 shares of the company's stock after buying an additional 42,553 shares during the period. Ritholtz Wealth Management owned about 0.17% of Pediatrix Medical Group worth $3,073,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MD. Royal Bank of Canada raised its holdings in Pediatrix Medical Group by 23.8% in the 1st quarter. Royal Bank of Canada now owns 22,097 shares of the company's stock worth $320,000 after acquiring an additional 4,247 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Pediatrix Medical Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company's stock valued at $743,000 after purchasing an additional 2,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Pediatrix Medical Group by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,506 shares of the company's stock valued at $3,891,000 after purchasing an additional 12,171 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Pediatrix Medical Group in the 2nd quarter worth $145,000. Finally, Quantbot Technologies LP bought a new stake in shares of Pediatrix Medical Group in the 2nd quarter worth $99,000. Hedge funds and other institutional investors own 97.71% of the company's stock.

Pediatrix Medical Group Stock Performance

MD stock opened at $24.60 on Friday. The company has a market cap of $2.02 billion, a P/E ratio of 11.94 and a beta of 0.69. Pediatrix Medical Group, Inc. has a 1 year low of $11.84 and a 1 year high of $24.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33. The stock's fifty day moving average price is $22.89 and its 200-day moving average price is $21.75.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.The company had revenue of $476.20 million during the quarter, compared to analysts' expectations of $465.83 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. Pediatrix Medical Group's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current year.

Insider Activity at Pediatrix Medical Group

In other news, Director Shirley A. Weis sold 36,028 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total transaction of $855,665.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

MD has been the topic of a number of research analyst reports. UBS Group upped their price target on Pediatrix Medical Group from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Pediatrix Medical Group in a report on Wednesday. Jefferies Financial Group reissued a "buy" rating and issued a $27.00 target price on shares of Pediatrix Medical Group in a research report on Monday, April 20th. Truist Financial upped their target price on shares of Pediatrix Medical Group from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Monday, April 13th. Finally, Mizuho set a $24.00 price target on shares of Pediatrix Medical Group in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.50.

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.

Want to see what other hedge funds are holding MD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pediatrix Medical Group, Inc. (NYSE:MD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.