PNC Financial Services Group Inc. Sells 3,301 Shares of Pediatrix Medical Group, Inc. $MD

PNC Financial Services Group Inc. cut its holdings in Pediatrix Medical Group, Inc. (NYSE:MD) by 19.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,894 shares of the company’s stock after selling 3,301 shares during the period. PNC Financial Services Group Inc.’s holdings in Pediatrix Medical Group were worth $199,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MD. AlphaQuest LLC grew its stake in shares of Pediatrix Medical Group by 16.0% during the first quarter. AlphaQuest LLC now owns 5,877 shares of the company’s stock valued at $85,000 after buying an additional 811 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Pediatrix Medical Group by 8.7% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,913 shares of the company’s stock valued at $171,000 after acquiring an additional 950 shares during the period. SummerHaven Investment Management LLC grew its position in Pediatrix Medical Group by 1.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 113,480 shares of the company’s stock worth $1,628,000 after acquiring an additional 1,153 shares during the last quarter. Atria Investments Inc grew its position in Pediatrix Medical Group by 9.4% during the 2nd quarter. Atria Investments Inc now owns 16,435 shares of the company’s stock worth $236,000 after acquiring an additional 1,411 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in Pediatrix Medical Group by 8.1% in the 1st quarter. Natixis Advisors LLC now owns 19,156 shares of the company’s stock worth $278,000 after purchasing an additional 1,435 shares during the period. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Pediatrix Medical Group Price Performance

Shares of NYSE MD opened at $24.46 on Friday. Pediatrix Medical Group, Inc. has a 1 year low of $11.84 and a 1 year high of $24.96. The stock has a market capitalization of $2.10 billion, a P/E ratio of 18.96 and a beta of 1.20. The company’s 50-day moving average is $19.12 and its 200 day moving average is $16.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.80 and a quick ratio of 1.80.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.46 by $0.21. Pediatrix Medical Group had a net margin of 5.66% and a return on equity of 18.94%. The business had revenue of $492.88 million during the quarter, compared to analyst estimates of $476.45 million. During the same period last year, the business posted $0.44 earnings per share. Pediatrix Medical Group’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MD. Leerink Partners increased their price objective on Pediatrix Medical Group from $14.50 to $17.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Truist Financial upped their price target on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a report on Monday, November 10th. UBS Group raised their price target on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity at Pediatrix Medical Group

In related news, Director Laura A. Linynsky sold 10,000 shares of Pediatrix Medical Group stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the sale, the director directly owned 32,232 shares in the company, valued at $697,822.80. The trade was a 23.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael A. Rucker sold 10,478 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $23.00, for a total value of $240,994.00. Following the completion of the sale, the director directly owned 59,101 shares in the company, valued at approximately $1,359,323. The trade was a 15.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Pediatrix Medical Group Company Profile

Pediatrix Medical Group, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care services in the United States. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians.