Pediatrix Medical Group (NYSE:MD) Stock Price Down 3.5% on Insider Selling

Pediatrix Medical Group, Inc. (NYSE:MD) dropped 3.5% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $22.14 and last traded at $21.7650. Approximately 42,312 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 803,766 shares. The stock had previously closed at $22.56.

Specifically, CEO Mark S. Ordan sold 23,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 302,805 shares of the company’s stock, valued at approximately $6,785,860.05. This represents a 7.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MD. Wall Street Zen raised Pediatrix Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 4th. Zacks Research upgraded Pediatrix Medical Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 21st. Truist Financial upped their price objective on Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a research note on Monday. Finally, Leerink Partners lifted their target price on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. 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 company’s stock. Based on data from MarketBeat.com, Pediatrix Medical Group presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Pediatrix Medical Group Stock Down 4.3%

The company has a market cap of $1.85 billion, a PE ratio of 11.48 and a beta of 0.77. The firm’s fifty day simple moving average is $20.73 and its 200-day simple moving average is $16.92. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.65.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.21. The firm had revenue of $492.88 million during the quarter, compared to the consensus estimate of $476.45 million. Pediatrix Medical Group had a return on equity of 20.45% and a net margin of 8.44%.The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. As a group, equities research analysts expect that Pediatrix Medical Group, Inc. will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pediatrix Medical Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Pediatrix Medical Group by 30.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,126,207 shares of the company’s stock valued at $69,114,000 after purchasing an additional 968,553 shares in the last quarter. American Century Companies Inc. raised its position in Pediatrix Medical Group by 38.9% during the third quarter. American Century Companies Inc. now owns 2,682,976 shares of the company’s stock valued at $44,940,000 after purchasing an additional 751,109 shares in the last quarter. Nuveen LLC bought a new stake in Pediatrix Medical Group in the first quarter valued at approximately $8,024,000. Ameriprise Financial Inc. increased its position in Pediatrix Medical Group by 175.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock valued at $10,683,000 after purchasing an additional 474,186 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Pediatrix Medical Group by 669.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company’s stock worth $6,832,000 after purchasing an additional 414,216 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Pediatrix Medical Group Company Profile

Pediatrix Medical Group, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care services in the United States. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians.