Wedge Capital Management L L P NC Purchases New Shares in Pediatrix Medical Group, Inc. $MD

by · The Cerbat Gem

Wedge Capital Management L L P NC acquired a new stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 138,228 shares of the company’s stock, valued at approximately $2,315,000. Wedge Capital Management L L P NC owned 0.16% of Pediatrix Medical Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MD. Voya Investment Management LLC increased its position in shares of Pediatrix Medical Group by 62.4% during the third quarter. Voya Investment Management LLC now owns 39,132 shares of the company’s stock valued at $655,000 after buying an additional 15,030 shares during the period. Squarepoint Ops LLC boosted its position in Pediatrix Medical Group by 234.6% during the 2nd quarter. Squarepoint Ops LLC now owns 81,142 shares of the company’s stock valued at $1,164,000 after acquiring an additional 56,889 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of Pediatrix Medical Group by 121.4% during the 2nd 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 period. Caxton Associates LLP bought a new position in shares of Pediatrix Medical Group in the 2nd quarter worth approximately $236,000. Finally, Public Sector Pension Investment Board raised its position in shares of Pediatrix Medical Group by 7.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 287,060 shares of the company’s stock worth $4,119,000 after acquiring an additional 18,984 shares in the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MD shares. Wall Street Zen raised Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 4th. Truist Financial increased their price target on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. Zacks Research raised shares of Pediatrix Medical Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 21st. Leerink Partners upped their price objective on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Read Our Latest Report on Pediatrix Medical Group

Insiders Place Their Bets

In other Pediatrix Medical Group news, Director Michael A. Rucker sold 10,478 shares of Pediatrix Medical Group stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $23.00, for a total value of $240,994.00. Following the completion of the sale, the director owned 59,101 shares of the company’s stock, valued at approximately $1,359,323. The trade was a 15.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark S. Ordan sold 23,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $22.41, for a total value of $515,430.00. Following the transaction, the chief executive officer directly owned 302,805 shares in the company, valued at $6,785,860.05. The trade was a 7.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 43,478 shares of company stock valued at $972,924. Company insiders own 0.90% of the company’s stock.

Pediatrix Medical Group Stock Down 2.5%

NYSE:MD opened at $21.45 on Wednesday. The firm has a market cap of $1.84 billion, a P/E ratio of 11.29 and a beta of 0.77. 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, Inc. has a fifty-two week low of $11.84 and a fifty-two week high of $24.99. The firm has a 50-day simple moving average of $21.18 and a two-hundred day simple moving average of $17.17.

Pediatrix Medical Group (NYSE:MD – Get Free Report) last issued its earnings results on Monday, November 3rd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.21. The firm had revenue of $492.88 million for the quarter, compared to the consensus estimate of $476.45 million. Pediatrix Medical Group had a net margin of 8.44% and a return on equity of 20.45%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Analysts predict that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current fiscal year.

Pediatrix Medical Group Profile

(Free Report)

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.

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