Rubric Capital Management LP Raises Stock Holdings in Pediatrix Medical Group, Inc. (NYSE:MD)

Rubric Capital Management LP lifted its holdings in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 797.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,150,000 shares of the company’s stock after acquiring an additional 7,241,400 shares during the period. Pediatrix Medical Group makes up approximately 1.6% of Rubric Capital Management LP’s investment portfolio, making the stock its 25th largest holding. Rubric Capital Management LP owned 9.69% of Pediatrix Medical Group worth $61,532,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. ProShare Advisors LLC boosted its position in Pediatrix Medical Group by 7.4% in the first quarter. ProShare Advisors LLC now owns 16,937 shares of the company’s stock valued at $170,000 after buying an additional 1,167 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Pediatrix Medical Group by 47.2% in the second quarter. Nisa Investment Advisors LLC now owns 4,755 shares of the company’s stock valued at $36,000 after buying an additional 1,524 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Pediatrix Medical Group by 3.8% in the second quarter. SummerHaven Investment Management LLC now owns 55,951 shares of the company’s stock valued at $422,000 after buying an additional 2,069 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Pediatrix Medical Group by 4.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 72,767 shares of the company’s stock valued at $730,000 after acquiring an additional 3,142 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Pediatrix Medical Group by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 87,369 shares of the company’s stock valued at $877,000 after acquiring an additional 3,669 shares during the period. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Insider Buying and Selling at Pediatrix Medical Group

In other news, CFO C Marc Richards sold 17,438 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $10.08, for a total value of $175,775.04. Following the completion of the sale, the chief financial officer now directly owns 175,347 shares of the company’s stock, valued at approximately $1,767,497.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO C Marc Richards sold 17,438 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $10.08, for a total value of $175,775.04. Following the completion of the sale, the chief financial officer now owns 175,347 shares of the company’s stock, valued at $1,767,497.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Laura A. Linynsky sold 7,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.16, for a total value of $78,120.00. Following the completion of the transaction, the director now owns 30,805 shares in the company, valued at approximately $343,783.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,100 shares of company stock worth $701,889. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MD. UBS Group upped their target price on Pediatrix Medical Group from $9.00 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Pediatrix Medical Group from a “sell” rating to a “hold” rating and set a $8.00 price target for the company in a research report on Friday, June 7th. Truist Financial upped their target price on Pediatrix Medical Group from $8.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded Pediatrix Medical Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.30.

Pediatrix Medical Group Price Performance

MD opened at $10.56 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87. The firm has a market cap of $888.59 million, a price-to-earnings ratio of -12.42, a PEG ratio of 1.68 and a beta of 1.56. The stock’s 50-day moving average price is $9.71 and its 200 day moving average price is $8.82. Pediatrix Medical Group, Inc. has a 12-month low of $6.62 and a 12-month high of $13.01.

Pediatrix Medical Group (NYSE:MD) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Pediatrix Medical Group had a positive return on equity of 10.59% and a negative net margin of 12.58%. The company had revenue of $504.30 million for the quarter, compared to analyst estimates of $505.49 million. During the same quarter last year, the company earned $0.37 EPS. Pediatrix Medical Group’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Pediatrix Medical Group, Inc. will post 1.18 earnings per share for the current year.

About Pediatrix Medical Group

Pediatrix Medical Group, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care services in the United States. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians.