Concurrent Investment Advisors LLC Takes Position in Pediatrix Medical Group, Inc. $MD

Concurrent Investment Advisors LLC acquired a new stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 32,782 shares of the company’s stock, valued at approximately $701,000.

A number of other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. grew 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 acquiring an additional 968,553 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pediatrix Medical Group by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,399,778 shares of the company’s stock valued at $56,942,000 after acquiring an additional 81,554 shares during the period. American Century Companies Inc. grew its position in shares of Pediatrix Medical Group by 38.9% during the 3rd quarter. American Century Companies Inc. now owns 2,682,976 shares of the company’s stock valued at $44,940,000 after acquiring an additional 751,109 shares during the period. Boston Partners grew its position in shares of Pediatrix Medical Group by 0.6% during the 3rd 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 period. Finally, Qube Research & Technologies Ltd grew its position in shares of Pediatrix Medical Group by 55.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,143,306 shares of the company’s stock valued at $19,150,000 after acquiring an additional 407,780 shares during the period. Institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Stock Up 0.9%

Shares of MD stock opened at $22.72 on Friday. The stock has a market cap of $1.89 billion, a P/E ratio of 11.71 and a beta of 0.70. Pediatrix Medical Group, Inc. has a 52 week low of $11.84 and a 52 week high of $24.99. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $20.96 and its two-hundred day simple moving average is $21.18.

Pediatrix Medical Group (NYSE:MD) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). The company had revenue of $493.77 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. Analysts predict that Pediatrix Medical Group, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MD. Zacks Research downgraded shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $27.00 target price on shares of Pediatrix Medical Group in a report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pediatrix Medical Group in a report on Friday, March 27th. UBS Group dropped their target price on shares of Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft set a $19.00 target price on shares of Pediatrix Medical Group in a report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.33.

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.