Wedge Capital Management L L P NC Invests $2.32 Million in Pediatrix Medical Group, Inc. $MD

Wedge Capital Management L L P NC bought a new position in shares of Pediatrix Medical Group, Inc. (NYSE:MD) in the 3rd quarter, Holdings Channel.com reports. The firm bought 138,228 shares of the company’s stock, valued at approximately $2,315,000.

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Pediatrix Medical Group by 28.6% in the 2nd quarter. American Century Companies Inc. now owns 1,931,867 shares of the company’s stock worth $27,722,000 after purchasing an additional 430,029 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Pediatrix Medical Group by 175.4% in the second quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock worth $10,683,000 after buying an additional 474,186 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Pediatrix Medical Group by 2.0% in the second quarter. Qube Research & Technologies Ltd now owns 735,526 shares of the company’s stock worth $10,555,000 after buying an additional 14,596 shares in the last quarter. Nomura Holdings Inc. boosted its position in shares of Pediatrix Medical Group by 121.4% during the second quarter. Nomura Holdings Inc. now owns 576,730 shares of the company’s stock worth $8,276,000 after acquiring an additional 316,274 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Pediatrix Medical Group by 3.7% during the second quarter. Bridgeway Capital Management LLC now owns 574,885 shares of the company’s stock valued at $8,250,000 after acquiring an additional 20,433 shares in the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MD has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 4th. UBS Group boosted their target price on Pediatrix Medical Group from $16.50 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Truist Financial raised 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Monday. Finally, Leerink Partners increased their target price on Pediatrix Medical Group from $14.50 to $17.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. One equities 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, Pediatrix Medical Group has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Buying and Selling at Pediatrix Medical Group

In related news, CEO Mark S. Ordan sold 23,000 shares of Pediatrix Medical Group stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $22.41, for a total transaction of $515,430.00. Following the completion of the transaction, the chief executive officer directly owned 302,805 shares of the company’s stock, valued at approximately $6,785,860.05. The trade was a 7.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Rucker sold 10,478 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $23.00, for a total transaction of $240,994.00. Following the transaction, the director owned 59,101 shares in the company, valued at $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 have sold 43,478 shares of company stock worth $972,924 over the last quarter. Insiders own 0.90% of the company’s stock.

Pediatrix Medical Group Trading Down 2.5%

Shares of MD stock opened at $21.45 on Wednesday. The company has a market cap of $1.84 billion, a PE ratio of 11.29 and a beta of 0.77. Pediatrix Medical Group, Inc. has a 1 year low of $11.84 and a 1 year high of $24.99. The stock’s 50 day simple moving average is $21.18 and its two-hundred day simple moving average is $17.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.83.

Pediatrix Medical Group (NYSE:MD) last released its earnings results on Monday, November 3rd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.21. Pediatrix Medical Group had a return on equity of 20.45% and a net margin of 8.44%.The firm had revenue of $492.88 million for the quarter, compared to the consensus estimate of $476.45 million. During the same quarter in the previous year, the company posted $0.44 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts predict that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current year.

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.