Royal Bank of Canada Lowers Holdings in Pediatrix Medical Group, Inc. $MD

Royal Bank of Canada trimmed its holdings in Pediatrix Medical Group, Inc. (NYSE:MD) by 91.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,989 shares of the company’s stock after selling 76,035 shares during the quarter. Royal Bank of Canada’s holdings in Pediatrix Medical Group were worth $149,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MD. Global Retirement Partners LLC lifted its holdings in shares of Pediatrix Medical Group by 68,250.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,367 shares of the company’s stock worth $29,000 after buying an additional 1,365 shares in the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Pediatrix Medical Group during the fourth quarter worth $30,000. Eurizon Capital SGR S.p.A. purchased a new position in Pediatrix Medical Group during the fourth quarter valued at $33,000. TD Private Client Wealth LLC bought a new stake in Pediatrix Medical Group in the 4th quarter valued at $39,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Pediatrix Medical Group in the 4th quarter worth $43,000. 97.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho set a $24.00 price objective on shares of Pediatrix Medical Group in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Pediatrix Medical Group in a research note on Wednesday, August 5th. Weiss Ratings cut Pediatrix Medical Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Truist Financial raised their target price on shares of Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Finally, UBS Group lifted their price target on Pediatrix Medical Group from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Seven research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.00.

Pediatrix Medical Group Price Performance

Shares of MD stock opened at $26.66 on Monday. Pediatrix Medical Group, Inc. has a one year low of $15.69 and a one year high of $27.94. The company has a market capitalization of $2.17 billion, a P/E ratio of 12.76 and a beta of 0.66. The company’s 50-day simple moving average is $26.06 and its two-hundred day simple moving average is $23.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.32 and a quick ratio of 1.32.

Pediatrix Medical Group (NYSE:MD) last issued its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $487.78 million during the quarter, compared to analyst estimates of $478.49 million. Pediatrix Medical Group had a return on equity of 20.05% and a net margin of 8.96%.Pediatrix Medical Group’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities analysts anticipate that Pediatrix Medical Group, Inc. will post 2.17 EPS for the current year.

About Pediatrix Medical Group

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.