JPMorgan Chase & Co. Buys 140,577 Shares of Pediatrix Medical Group, Inc. $MD

JPMorgan Chase & Co. raised its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 20.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 827,075 shares of the company’s stock after purchasing an additional 140,577 shares during the period. JPMorgan Chase & Co.’s holdings in Pediatrix Medical Group were worth $13,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MD. Ameriprise Financial Inc. grew its stake in Pediatrix Medical Group by 175.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 744,473 shares of the company’s stock valued at $10,683,000 after buying an additional 474,186 shares during the last quarter. American Century Companies Inc. boosted its holdings in Pediatrix Medical Group by 28.6% during the second quarter. American Century Companies Inc. now owns 1,931,867 shares of the company’s stock valued at $27,722,000 after acquiring an additional 430,029 shares during the period. BNP Paribas Financial Markets boosted its holdings in Pediatrix Medical Group by 669.4% during the second quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company’s stock valued at $6,832,000 after acquiring an additional 414,216 shares during the period. Hillsdale Investment Management Inc. grew its position in shares of Pediatrix Medical Group by 75,200.0% in the second quarter. Hillsdale Investment Management Inc. now owns 376,500 shares of the company’s stock valued at $5,403,000 after purchasing an additional 376,000 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Pediatrix Medical Group in the second quarter worth about $5,310,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pediatrix Medical Group

In other Pediatrix Medical Group news, CEO Mark S. Ordan sold 23,000 shares of the firm’s 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 owned 302,805 shares in the company, valued at $6,785,860.05. This trade represents a 7.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company’s stock.

Pediatrix Medical Group Stock Performance

Shares of NYSE MD opened at $19.83 on Thursday. The business has a fifty day simple moving average of $21.21 and a 200 day simple moving average of $19.88. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 10.22 and a beta of 0.79. Pediatrix Medical Group, Inc. has a one year low of $11.84 and a one year high of $24.99.

Pediatrix Medical Group (NYSE:MD) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The business had revenue of $493.77 million for the quarter, compared to analyst estimates of $486.23 million. Pediatrix Medical Group had a return on equity of 19.59% and a net margin of 8.64%.The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. Sell-side analysts expect that Pediatrix Medical Group, Inc. will post 1.38 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on MD. Zacks Research downgraded Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Deutsche Bank Aktiengesellschaft set a $19.00 price target on Pediatrix Medical Group in a report on Friday, February 20th. UBS Group lowered their price objective on shares of Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Truist Financial cut their target price on shares of Pediatrix Medical Group from $24.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, February 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pediatrix Medical Group has a consensus rating of “Hold” and a consensus price target of $19.80.

Pediatrix Medical Group Company 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.