Louisiana State Employees Retirement System Invests $798,000 in Pediatrix Medical Group, Inc. $MD

Louisiana State Employees Retirement System acquired a new position in shares of Pediatrix Medical Group, Inc. (NYSE:MD) in the 1st quarter, Holdings Channel.com reports. The fund acquired 37,300 shares of the company’s stock, valued at approximately $798,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Phocas Financial Corp. raised its holdings in shares of Pediatrix Medical Group by 44.5% in the fourth quarter. Phocas Financial Corp. now owns 335,551 shares of the company’s stock worth $7,177,000 after acquiring an additional 103,328 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Pediatrix Medical Group in the 4th quarter valued at about $2,163,000. Allspring Global Investments Holdings LLC purchased a new position in Pediatrix Medical Group in the 4th quarter valued at about $13,613,000. CSM Advisors LLC boosted its stake in shares of Pediatrix Medical Group by 54.7% during the 3rd quarter. CSM Advisors LLC now owns 313,675 shares of the company’s stock worth $5,253,000 after purchasing an additional 110,877 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Pediatrix Medical Group by 25.6% during the fourth quarter. Teacher Retirement System of Texas now owns 306,715 shares of the company’s stock worth $6,561,000 after buying an additional 62,446 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Shirley A. Weis sold 36,028 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total transaction of $855,665.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MD. Mizuho set a $24.00 price objective on shares of Pediatrix Medical Group in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. UBS Group increased their target price on Pediatrix Medical Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Jefferies Financial Group restated a “buy” rating and issued a $27.00 price target on shares of Pediatrix Medical Group in a report on Monday, April 20th. Finally, Truist Financial raised their target price on shares of Pediatrix Medical Group from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.50.

Pediatrix Medical Group Stock Up 1.0%

Shares of NYSE:MD traded up $0.26 during midday trading on Tuesday, hitting $27.02. 16,684 shares of the company’s stock traded hands, compared to its average volume of 805,494. The firm’s fifty day moving average price is $23.28 and its two-hundred day moving average price is $21.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.33 and a current ratio of 1.33. Pediatrix Medical Group, Inc. has a twelve month low of $11.84 and a twelve month high of $27.94. The company has a market cap of $2.22 billion, a PE ratio of 13.24 and a beta of 0.66.

Pediatrix Medical Group (NYSE:MD) last announced its earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. Pediatrix Medical Group had a return on equity of 19.94% and a net margin of 9.02%.The business had revenue of $476.20 million for the quarter, compared to the consensus estimate of $465.83 million. During the same period last year, the business posted $0.33 EPS. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal 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.