Short Interest in Pediatrix Medical Group, Inc. (NYSE:MD) Declines By 35.6%

Pediatrix Medical Group, Inc. (NYSE:MD) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,860,000 shares, a decline of 35.6% from the March 15th total of 2,890,000 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily volume of 660,000 shares, the short-interest ratio is presently 2.8 days.

Analyst Ratings Changes

MD has been the topic of a number of recent research reports. UBS Group upped their price objective on Pediatrix Medical Group from $16.50 to $18.50 and gave the stock a “neutral” rating in a research report on Friday, February 21st. StockNews.com upgraded Pediatrix Medical Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial reduced their target price on shares of Pediatrix Medical Group from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.75.

Institutional Investors Weigh In On Pediatrix Medical Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management increased its holdings in shares of Pediatrix Medical Group by 73.7% in the 1st quarter. Ritholtz Wealth Management now owns 24,119 shares of the company’s stock valued at $349,000 after purchasing an additional 10,236 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Pediatrix Medical Group by 0.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 112,327 shares of the company’s stock valued at $1,628,000 after acquiring an additional 1,028 shares during the period. SG Americas Securities LLC increased its stake in Pediatrix Medical Group by 194.0% in the 1st quarter. SG Americas Securities LLC now owns 38,405 shares of the company’s stock valued at $556,000 after purchasing an additional 25,343 shares in the last quarter. GAMMA Investing LLC boosted its position in Pediatrix Medical Group by 219.5% during the first quarter. GAMMA Investing LLC now owns 2,569 shares of the company’s stock worth $37,000 after purchasing an additional 1,765 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Pediatrix Medical Group by 0.9% during the fourth quarter. California State Teachers Retirement System now owns 80,327 shares of the company’s stock worth $1,054,000 after purchasing an additional 752 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Performance

Shares of MD stock traded down $0.29 during mid-day trading on Thursday, hitting $12.85. 483,614 shares of the stock were exchanged, compared to its average volume of 838,504. The stock’s fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $13.94. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -10.71, a P/E/G ratio of 1.74 and a beta of 1.32. Pediatrix Medical Group has a 12-month low of $6.62 and a 12-month high of $17.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.42 and a current ratio of 1.60.

Pediatrix Medical Group (NYSE:MD) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. The firm had revenue of $502.36 million during the quarter, compared to analysts’ expectations of $486.22 million. Pediatrix Medical Group had a negative net margin of 4.92% and a positive return on equity of 15.47%. On average, analysts forecast that Pediatrix Medical Group will post 1.38 EPS for the current year.

About Pediatrix Medical Group

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.