Jupiter Topco LLC Takes $868,000 Position in Pediatrix Medical Group, Inc. $MD

Jupiter Topco LLC bought a new position in shares of Pediatrix Medical Group, Inc. (NYSE:MD) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 34,264 shares of the company’s stock, valued at approximately $868,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Burney Co. purchased a new position in Pediatrix Medical Group during the first quarter valued at $1,129,000. Fifth Third Bancorp increased its stake in shares of Pediatrix Medical Group by 7,643.2% during the first quarter. Fifth Third Bancorp now owns 62,333 shares of the company’s stock worth $1,333,000 after purchasing an additional 61,528 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Pediatrix Medical Group by 12.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,532,300 shares of the company’s stock worth $32,776,000 after purchasing an additional 174,600 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of Pediatrix Medical Group by 42.1% during the 1st quarter. Ritholtz Wealth Management now owns 143,668 shares of the company’s stock worth $3,073,000 after purchasing an additional 42,553 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Pediatrix Medical Group by 52.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 975,133 shares of the company’s stock valued at $20,185,000 after buying an additional 335,733 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MD shares. Jefferies Financial Group cut Pediatrix Medical Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $27.00 to $28.00 in a report on Wednesday, August 19th. Weiss Ratings cut Pediatrix Medical Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. UBS Group raised their target price on Pediatrix Medical Group from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Wall Street Zen cut Pediatrix Medical Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial increased their price objective on Pediatrix Medical Group from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Pediatrix Medical Group has a consensus rating of “Hold” and a consensus price target of $26.60.

Pediatrix Medical Group Trading Up 0.6%

MD opened at $27.03 on Friday. Pediatrix Medical Group, Inc. has a one year low of $15.69 and a one year high of $27.94. The stock has a market capitalization of $2.20 billion, a PE ratio of 12.93 and a beta of 0.64. The business’s 50 day moving average price is $26.32 and its 200 day moving average price is $23.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.32.

Pediatrix Medical Group (NYSE:MD) last posted its earnings results on Tuesday, August 4th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Pediatrix Medical Group had a return on equity of 20.05% and a net margin of 8.96%.The company had revenue of $487.78 million during the quarter, compared to analysts’ expectations of $478.49 million. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts expect 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.