Public Sector Pension Investment Board Buys 122,618 Shares of Pediatrix Medical Group, Inc. $MD

Public Sector Pension Investment Board increased its position in Pediatrix Medical Group, Inc. (NYSE:MD) by 42.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 409,678 shares of the company’s stock after acquiring an additional 122,618 shares during the period. Public Sector Pension Investment Board owned about 0.47% of Pediatrix Medical Group worth $6,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new position in shares of Pediatrix Medical Group during the 2nd quarter worth $83,000. Quantbot Technologies LP bought a new position in Pediatrix Medical Group in the 2nd quarter worth $99,000. Smartleaf Asset Management LLC lifted its position in Pediatrix Medical Group by 10.6% during the third quarter. Smartleaf Asset Management LLC now owns 6,250 shares of the company’s stock valued at $101,000 after purchasing an additional 601 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Pediatrix Medical Group by 219.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,685 shares of the company’s stock valued at $110,000 after purchasing an additional 5,278 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in Pediatrix Medical Group in the second quarter worth about $145,000. 97.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Mark S. Ordan sold 23,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $22.41, for a total transaction of $515,430.00. Following the completion of the transaction, the chief executive officer directly owned 302,805 shares of the company’s stock, valued at approximately $6,785,860.05. This represents a 7.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Pediatrix Medical Group Price Performance

MD stock opened at $21.69 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.83 and a current ratio of 1.83. The company’s fifty day moving average price is $21.69 and its 200-day moving average price is $19.50. Pediatrix Medical Group, Inc. has a one year low of $11.84 and a one year high of $24.99. The company has a market capitalization of $1.86 billion, a PE ratio of 11.42 and a beta of 0.76.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MD. UBS Group lifted their price objective on Pediatrix Medical Group from $16.50 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Monday, December 29th. Zacks Research downgraded shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Truist Financial lifted their target price on shares of Pediatrix Medical Group from $17.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.00.

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.