Pediatrix Medical Group, Inc. $MD Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in Pediatrix Medical Group, Inc. (NYSE:MD) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,532,300 shares of the company’s stock after buying an additional 174,600 shares during the quarter. Renaissance Technologies LLC owned approximately 1.87% of Pediatrix Medical Group worth $32,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP purchased a new position in Pediatrix Medical Group during the 1st quarter valued at about $43,861,000. Allspring Global Investments Holdings LLC purchased a new stake in Pediatrix Medical Group during the fourth quarter worth about $13,613,000. Rockefeller Capital Management L.P. increased its stake in Pediatrix Medical Group by 814.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 594,351 shares of the company’s stock worth $12,713,000 after purchasing an additional 529,367 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Pediatrix Medical Group by 175.4% during the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock worth $10,683,000 after purchasing an additional 474,186 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Pediatrix Medical Group by 669.4% during the second quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company’s stock worth $6,832,000 after purchasing an additional 414,216 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MD shares. Jefferies Financial Group restated a “buy” rating and issued a $27.00 price objective on shares of Pediatrix Medical Group in a report on Monday, April 20th. Truist Financial increased their target price on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Wednesday, June 24th. Mizuho set a $24.00 price target on shares of Pediatrix Medical Group in a research report on Friday, May 8th. Finally, UBS Group boosted their price target on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.33.

Pediatrix Medical Group Stock Performance

Shares of Pediatrix Medical Group stock opened at $26.83 on Wednesday. Pediatrix Medical Group, Inc. has a one year low of $11.84 and a one year high of $27.94. The company has a market cap of $2.20 billion, a PE ratio of 13.03 and a beta of 0.66. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50-day simple moving average of $24.31 and a 200-day simple moving average of $22.40.

Pediatrix Medical Group (NYSE:MD) last issued its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $476.20 million for the quarter, compared to analysts’ expectations of $465.83 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal year.

Insider Activity at Pediatrix Medical Group

In other Pediatrix Medical Group news, Director Shirley A. Weis sold 36,028 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total value of $855,665.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

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.