Jennison Associates LLC Purchases New Shares in Pediatrix Medical Group, Inc. $MD

Jennison Associates LLC purchased a new position in Pediatrix Medical Group, Inc. (NYSE:MD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,896 shares of the company’s stock, valued at approximately $768,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MD. Pictet Asset Management Holding SA increased its position in Pediatrix Medical Group by 13.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,114 shares of the company’s stock valued at $281,000 after acquiring an additional 1,527 shares during the last quarter. UBS Group AG lifted its holdings in shares of Pediatrix Medical Group by 89.5% in the 4th quarter. UBS Group AG now owns 585,750 shares of the company’s stock worth $12,529,000 after acquiring an additional 276,646 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Pediatrix Medical Group by 2,898.6% during the 4th quarter. Quent Capital LLC now owns 10,345 shares of the company’s stock worth $221,000 after purchasing an additional 10,000 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Pediatrix Medical Group during the 4th quarter worth about $701,000. Finally, Teacher Retirement System of Texas grew its holdings in Pediatrix Medical Group by 25.6% during the 4th quarter. Teacher Retirement System of Texas now owns 306,715 shares of the company’s stock valued at $6,561,000 after purchasing an additional 62,446 shares during the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on MD shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Pediatrix Medical Group in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $19.00 target price on Pediatrix Medical Group in a research note on Friday, February 20th. Truist Financial increased their price target on Pediatrix Medical Group from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, April 13th. UBS Group decreased their price target on Pediatrix Medical Group from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Finally, Jefferies Financial Group restated a “buy” rating and set a $27.00 price objective on shares of Pediatrix Medical Group in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Pediatrix Medical Group has an average rating of “Hold” and an average price target of $21.33.

Pediatrix Medical Group Trading Down 0.2%

Shares of MD opened at $22.72 on Monday. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 11.71 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.66. Pediatrix Medical Group, Inc. has a 1-year low of $11.84 and a 1-year high of $24.99. The company has a 50-day moving average of $20.96 and a 200 day moving average of $21.21.

Pediatrix Medical Group (NYSE:MD) last issued its earnings results on Thursday, February 19th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The company had revenue of $493.77 million during the quarter, compared to the consensus estimate of $486.23 million. Pediatrix Medical Group had a return on equity of 19.59% and a net margin of 8.64%.Pediatrix Medical Group’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, research analysts expect that Pediatrix Medical Group, Inc. will post 2.05 EPS for the current year.

Pediatrix Medical Group 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.