Lazard Asset Management LLC Buys 30,621 Shares of Pediatrix Medical Group, Inc. $MD

Lazard Asset Management LLC lifted its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,979 shares of the company’s stock after purchasing an additional 30,621 shares during the period. Lazard Asset Management LLC owned 0.21% of Pediatrix Medical Group worth $3,614,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MD. Wasatch Advisors LP purchased a new position in Pediatrix Medical Group in the first quarter valued at approximately $43,861,000. Allspring Global Investments Holdings LLC purchased a new stake in Pediatrix Medical Group in the fourth quarter worth $13,613,000. Rockefeller Capital Management L.P. increased its position in Pediatrix Medical Group by 814.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 594,351 shares of the company’s stock worth $12,713,000 after buying an additional 529,367 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Pediatrix Medical Group by 175.4% in the second 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 period. Finally, BNP Paribas Financial Markets raised its stake in shares of Pediatrix Medical Group by 669.4% in the second quarter. BNP Paribas Financial Markets now owns 476,098 shares of the company’s stock valued at $6,832,000 after buying an additional 414,216 shares during the period. Institutional investors own 97.71% of the company’s stock.

Pediatrix Medical Group Trading Up 0.0%

Shares of MD stock opened at $26.48 on Friday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.86 and a beta of 0.66. The company’s fifty day simple moving average is $24.60 and its two-hundred day simple moving average is $22.49. Pediatrix Medical Group, Inc. has a 1 year low of $11.84 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 1.33.

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

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Shirley A. Weis sold 36,028 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $23.75, for a total transaction of $855,665.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

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.