The Manufacturers Life Insurance Company Purchases Shares of 40,683 Pediatrix Medical Group, Inc. $MD

Key Points

• The Manufacturers Life Insurance Company acquired 40,683 shares of Pediatrix Medical Group, worth approximately $1.03 million, giving it a 0.05% stake. Institutional investors collectively own 97.71% of the company.
• Pediatrix reported quarterly earnings of $0.63 per share, beating estimates of $0.59, while revenue rose 4.1% year over year to $487.78 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $26.60; the stock recently opened at $27.03 after trading between $15.69 and $27.94 over the past year.

The Manufacturers Life Insurance Company acquired a new position in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 40,683 shares of the company's stock, valued at approximately $1,030,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Pediatrix Medical Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Pediatrix Medical Group in the second quarter worth $347,383,000. Dimensional Fund Advisors LP lifted its position in Pediatrix Medical Group by 8.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,856,915 shares of the company's stock valued at $82,496,000 after purchasing an additional 287,696 shares during the last quarter. Wasatch Advisors LP lifted its position in Pediatrix Medical Group by 21.9% during the second quarter. Wasatch Advisors LP now owns 2,498,884 shares of the company's stock valued at $63,297,000 after purchasing an additional 448,360 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Pediatrix Medical Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,181,712 shares of the company's stock worth $46,674,000 after buying an additional 14,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Pediatrix Medical Group by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,552,585 shares of the company's stock worth $33,210,000 after buying an additional 105,345 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors.

Pediatrix Medical Group Price Performance

MD stock opened at $27.03 on Friday. Pediatrix Medical Group, Inc. has a 12 month low of $15.69 and a 12 month high of $27.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $26.32 and a 200 day moving average price of $23.37. The stock has a market cap of $2.20 billion, a PE ratio of 12.93 and a beta of 0.64.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.04. The company had revenue of $487.78 million for the quarter, compared to analyst estimates of $478.49 million. Pediatrix Medical Group had a net margin of 8.96% and a return on equity of 20.05%. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Equities research analysts anticipate that Pediatrix Medical Group, Inc. will post 2.17 earnings per share for the current year.

Analysts Set New Price Targets

MD has been the topic of several recent research reports. Truist Financial upped their target price on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a "hold" rating in a research report on Tuesday, July 14th. Jefferies Financial Group lowered Pediatrix Medical Group from a "buy" rating to a "hold" rating and lifted their price target for the stock from $27.00 to $28.00 in a research report on Wednesday, August 19th. Mizuho set a $24.00 price objective on Pediatrix Medical Group in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $25.00 price objective on shares of Pediatrix Medical Group in a research report on Wednesday, August 5th. Finally, Weiss Ratings lowered Pediatrix Medical Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 25th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $26.60.

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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