Louisiana State Employees Retirement System Purchases Shares of 37,300 Pediatrix Medical Group, Inc. $MD

Louisiana State Employees Retirement System acquired a new stake in Pediatrix Medical Group, Inc. (NYSE:MD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 37,300 shares of the company’s stock, valued at approximately $798,000.

Several other institutional investors have also recently added to or reduced their stakes in MD. Dimensional Fund Advisors LP raised its holdings in Pediatrix Medical Group by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,569,219 shares of the company’s stock worth $76,349,000 after purchasing an additional 169,441 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Pediatrix Medical Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,181,712 shares of the company’s stock valued at $46,674,000 after buying an additional 14,421 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Pediatrix Medical Group by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,552,585 shares of the company’s stock worth $33,210,000 after acquiring an additional 105,345 shares in the last quarter. Boston Partners lifted its position in Pediatrix Medical Group by 0.6% in the third quarter. Boston Partners now owns 1,427,953 shares of the company’s stock valued at $24,063,000 after acquiring an additional 8,335 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Pediatrix Medical Group by 4.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,357,700 shares of the company’s stock valued at $29,041,000 after acquiring an additional 51,700 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Price Performance

Shares of NYSE MD traded up $0.26 during midday trading on Tuesday, hitting $27.02. The company had a trading volume of 16,684 shares, compared to its average volume of 805,494. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. Pediatrix Medical Group, Inc. has a twelve month low of $11.84 and a twelve month high of $27.94. The business has a 50-day simple moving average of $23.28 and a two-hundred day simple moving average of $21.92. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 13.24 and a beta of 0.66.

Pediatrix Medical Group (NYSE:MD) last issued its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $476.20 million for the quarter, compared to analyst estimates of $465.83 million. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share. Equities research analysts anticipate that Pediatrix Medical Group, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

MD has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $27.00 target price on shares of Pediatrix Medical Group in a research report on Monday, April 20th. Mizuho set a $24.00 price target on Pediatrix Medical Group in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Wednesday, June 24th. 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. Finally, UBS Group upped their price target on shares of Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.50.

Insider Activity

In other news, Director Shirley A. Weis sold 36,028 shares of Pediatrix Medical Group stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total transaction of $855,665.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

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.