Sei Investments Co. Cuts Stock Holdings in Pediatrix Medical Group, Inc. $MD

Key Points

• Sei Investments cut its Pediatrix Medical Group stake by 19.3% in the first quarter, selling 37,564 shares and retaining 157,407 shares valued at approximately $3.37 million. Institutional investors collectively own 97.71% of the company.
• Pediatrix reported quarterly earnings of $0.63 per share, exceeding estimates of $0.59, while revenue reached $487.78 million and rose 4.1% year over year.
• Shares opened at $27.04, near the 52-week high of $27.94. Analysts maintain an overall “Hold” rating, with an average price target of $24.83, despite some upgraded targets and a “Buy” rating from Jefferies.

Sei Investments Co. lessened its stake in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,407 shares of the company's stock after selling 37,564 shares during the quarter. Sei Investments Co. owned about 0.19% of Pediatrix Medical Group worth $3,367,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of 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 buying an additional 4,247 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Pediatrix Medical Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,253 shares of the company's stock valued at $743,000 after acquiring an additional 2,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Pediatrix Medical Group by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,506 shares of the company's stock worth $3,891,000 after acquiring an additional 12,171 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Pediatrix Medical Group during the second quarter worth about $145,000. Finally, Quantbot Technologies LP purchased a new position in shares of Pediatrix Medical Group in the 2nd quarter worth about $99,000. 97.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pediatrix Medical Group

In other news, Director Shirley A. Weis sold 36,028 shares of the business's stock in a transaction on 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

Pediatrix Medical Group Price Performance

Shares of NYSE MD opened at $27.04 on Friday. Pediatrix Medical Group, Inc. has a 1-year low of $14.05 and a 1-year high of $27.94. The business has a 50-day moving average of $25.06 and a 200-day moving average of $22.63. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 1.33. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 12.94 and a beta of 0.66.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $487.78 million for the quarter, compared to the consensus estimate of $478.49 million. Pediatrix Medical Group had a return on equity of 20.05% and a net margin of 8.96%.The company's revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. On average, equities analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MD has been the topic of several research analyst reports. Truist Financial lifted their price objective 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. Weiss Ratings raised shares of Pediatrix Medical Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. UBS Group raised their price target on shares of Pediatrix Medical Group from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday. Mizuho set a $24.00 price target on shares of Pediatrix Medical Group in a research report on Friday, May 8th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $24.83.

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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