Public Sector Pension Investment Board Raises Stock Position in Pediatrix Medical Group, Inc. $MD

Public Sector Pension Investment Board boosted its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 42.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 409,678 shares of the company’s stock after purchasing an additional 122,618 shares during the period. Public Sector Pension Investment Board’s holdings in Pediatrix Medical Group were worth $6,862,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LSV Asset Management lifted its stake in Pediatrix Medical Group by 2.5% in the third quarter. LSV Asset Management now owns 305,800 shares of the company’s stock worth $5,122,000 after purchasing an additional 7,496 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Pediatrix Medical Group by 10.6% in the third quarter. Smartleaf Asset Management LLC now owns 6,250 shares of the company’s stock worth $101,000 after buying an additional 601 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Pediatrix Medical Group during the 3rd quarter worth approximately $213,000. Allianz Asset Management GmbH lifted its stake in shares of Pediatrix Medical Group by 158.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 158,777 shares of the company’s stock worth $2,660,000 after acquiring an additional 97,365 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Pediatrix Medical Group by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 460,747 shares of the company’s stock valued at $7,718,000 after acquiring an additional 5,030 shares during the period. Institutional investors own 97.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Zacks Research lowered Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. UBS Group upped their target price on shares of Pediatrix Medical Group from $16.50 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Monday, December 29th. Finally, Truist Financial boosted their price target on Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a report on Monday, November 10th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.00.

Insider Transactions at Pediatrix Medical Group

In other Pediatrix Medical Group news, CEO Mark S. Ordan sold 23,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $22.41, for a total transaction of $515,430.00. Following the sale, the chief executive officer owned 302,805 shares of the company’s stock, valued at approximately $6,785,860.05. This trade represents a 7.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by insiders.

Pediatrix Medical Group Trading Up 0.8%

NYSE:MD opened at $21.69 on Wednesday. The firm has a 50-day simple moving average of $21.69 and a 200-day simple moving average of $19.50. Pediatrix Medical Group, Inc. has a one year low of $11.84 and a one year high of $24.99. The firm has a market cap of $1.86 billion, a P/E ratio of 11.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83.

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.