Fifth Third Bancorp Has $1.33 Million Stock Holdings in Pediatrix Medical Group, Inc. $MD

Fifth Third Bancorp grew its position in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 7,643.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 62,333 shares of the company’s stock after buying an additional 61,528 shares during the quarter. Fifth Third Bancorp’s holdings in Pediatrix Medical Group were worth $1,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MD. Wasatch Advisors LP bought a new stake in shares of Pediatrix Medical Group in the first quarter valued at about $43,861,000. Allspring Global Investments Holdings LLC bought a new position in Pediatrix Medical Group during the fourth quarter worth about $13,613,000. Rockefeller Capital Management L.P. increased its position in Pediatrix Medical Group by 814.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 594,351 shares of the company’s stock worth $12,713,000 after acquiring an additional 529,367 shares during the period. Ameriprise Financial Inc. raised 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 worth $10,683,000 after purchasing an additional 474,186 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in 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. Institutional investors and hedge funds own 97.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MD. Mizuho set a $24.00 target price on shares of Pediatrix Medical Group in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Wednesday, June 24th. UBS Group boosted their price target on Pediatrix Medical Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Truist Financial increased their price target on Pediatrix Medical Group from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group restated a “buy” rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.33.

Insider Activity

In related news, Director Shirley A. Weis sold 36,028 shares of Pediatrix Medical Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $23.75, for a total value of $855,665.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Pediatrix Medical Group Trading Up 2.6%

MD opened at $26.25 on Friday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.74 and a beta of 0.66. 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 company has a 50-day simple moving average of $24.17 and a 200 day simple moving average of $22.34.

Pediatrix Medical Group (NYSE:MD) last released 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. The firm 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 business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. Analysts predict that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current fiscal year.

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.