Vanguard Group Inc. Sells 168,618 Shares of Pediatrix Medical Group, Inc. $MD

Key Points

• Vanguard trimmed its Pediatrix stake by 1.5% in the fourth quarter, selling 168,618 shares and still holding more than 10.7 million shares worth about $229.4 million.
• Pediatrix reported better-than-expected quarterly results, posting $0.44 EPS versus the $0.37 estimate and revenue of $476.2 million, up 3.9% year over year.
• Analyst sentiment remains cautious: the stock carries a consensus Hold rating with a $22 average price target, even though some firms, including Jefferies and Mizuho, maintain higher targets.

Vanguard Group Inc. reduced its holdings in shares of Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,724,265 shares of the company's stock after selling 168,618 shares during the quarter. Vanguard Group Inc. owned approximately 12.49% of Pediatrix Medical Group worth $229,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MD. Victory Capital Management Inc. lifted its position in shares of Pediatrix Medical Group by 30.7% in the third quarter. Victory Capital Management Inc. now owns 4,126,207 shares of the company's stock worth $69,114,000 after purchasing an additional 968,553 shares in the last quarter. American Century Companies Inc. grew its position in Pediatrix Medical Group by 38.9% in the third quarter. American Century Companies Inc. now owns 2,682,976 shares of the company's stock valued at $44,940,000 after purchasing an additional 751,109 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Pediatrix Medical Group in the 4th quarter valued at $13,613,000. Ameriprise Financial Inc. increased its stake in Pediatrix Medical Group by 175.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company's stock valued at $10,683,000 after buying an additional 474,186 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Pediatrix Medical Group by 669.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company's stock worth $6,832,000 after buying an additional 414,216 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Pediatrix Medical Group Stock Performance

Shares of MD stock opened at $23.48 on Friday. The company has a fifty day moving average price of $21.11 and a two-hundred day moving average price of $21.33. Pediatrix Medical Group, Inc. has a one year low of $11.84 and a one year high of $24.99. The stock has a market cap of $1.93 billion, a P/E ratio of 11.40 and a beta of 0.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.66.

Pediatrix Medical Group (NYSE:MD - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. The company had revenue of $476.20 million for the quarter, compared to analyst estimates of $465.83 million. During the same period in the previous year, the business earned $0.33 EPS. Pediatrix Medical Group's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Pediatrix Medical Group, Inc. will post 2.07 EPS for the current year.

Analyst Upgrades and Downgrades

MD has been the subject of a number of recent research reports. Mizuho set a $24.00 price objective on shares of Pediatrix Medical Group in a research note on Friday. Zacks Research lowered Pediatrix Medical Group from a "strong-buy" rating to a "hold" rating in a report on Friday, January 23rd. Jefferies Financial Group reissued a "buy" rating and set a $27.00 price target on shares of Pediatrix Medical Group in a research report on Monday, April 20th. Truist Financial raised their price target on 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, UBS Group lowered their price target on Pediatrix Medical Group from $23.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.00.

Pediatrix Medical Group Company 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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