Renaissance Technologies LLC Grows Stake in Pediatrix Medical Group, Inc. $MD

Renaissance Technologies LLC lifted its holdings in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 12.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,532,300 shares of the company’s stock after acquiring an additional 174,600 shares during the period. Renaissance Technologies LLC’s holdings in Pediatrix Medical Group were worth $32,776,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings in Pediatrix Medical Group by 20.3% in the first quarter. Cetera Investment Advisers now owns 20,213 shares of the company’s stock valued at $432,000 after purchasing an additional 3,405 shares in the last quarter. First Trust Advisors LP raised its holdings in Pediatrix Medical Group by 4.6% during the first quarter. First Trust Advisors LP now owns 152,876 shares of the company’s stock worth $3,270,000 after purchasing an additional 6,769 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pediatrix Medical Group by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,856,915 shares of the company’s stock worth $82,496,000 after buying an additional 287,696 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Pediatrix Medical Group by 69.5% during the 1st quarter. Jennison Associates LLC now owns 60,846 shares of the company’s stock worth $1,301,000 after buying an additional 24,950 shares during the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in shares of Pediatrix Medical Group in the 1st quarter valued at $222,000. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

Pediatrix Medical Group Stock Performance

Shares of MD opened at $26.83 on Wednesday. The company’s 50 day simple moving average is $24.31 and its 200-day simple moving average is $22.40. The firm has a market cap of $2.20 billion, a PE ratio of 13.03 and a beta of 0.66. Pediatrix Medical Group, Inc. has a 12-month low of $11.84 and a 12-month high of $27.94. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45.

Pediatrix Medical Group (NYSE:MD) last released its quarterly 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 during the quarter, compared to the consensus estimate of $465.83 million. Pediatrix Medical Group had a net margin of 9.02% and a return on equity of 19.94%. Pediatrix Medical Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, equities analysts predict that Pediatrix Medical Group, Inc. will post 2.1 EPS for the current year.

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.