Franklin Resources Inc. Buys Shares of 48,627 Pediatrix Medical Group, Inc. (NYSE:MD)

Franklin Resources Inc. acquired a new stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,627 shares of the company’s stock, valued at approximately $598,000. Franklin Resources Inc. owned about 0.06% of Pediatrix Medical Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of MD. Rubric Capital Management LP raised its stake in shares of Pediatrix Medical Group by 1.5% in the third quarter. Rubric Capital Management LP now owns 8,275,000 shares of the company’s stock worth $95,907,000 after acquiring an additional 125,000 shares during the last quarter. State Street Corp raised its holdings in Pediatrix Medical Group by 1.4% in the third quarter. State Street Corp now owns 3,540,791 shares of the company’s stock worth $41,038,000 after purchasing an additional 50,597 shares during the period. Geode Capital Management LLC lifted its holdings in Pediatrix Medical Group by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,936,751 shares of the company’s stock worth $22,452,000 after acquiring an additional 45,155 shares in the last quarter. Dana Investment Advisors Inc. grew its position in shares of Pediatrix Medical Group by 80.3% in the 2nd quarter. Dana Investment Advisors Inc. now owns 1,023,136 shares of the company’s stock valued at $7,725,000 after purchasing an additional 455,785 shares during the period. Finally, Weiss Asset Management LP boosted its holdings in shares of Pediatrix Medical Group by 50.5% in the third quarter. Weiss Asset Management LP now owns 912,818 shares of the company’s stock valued at $10,580,000 after buying an additional 306,143 shares during the period. Institutional investors own 97.71% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mary Ann E. Moore sold 8,108 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $129,728.00. Following the transaction, the executive vice president now owns 135,810 shares in the company, valued at $2,172,960. The trade was a 5.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark S. Ordan sold 27,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $15.35, for a total transaction of $423,660.00. Following the completion of the transaction, the director now owns 138,683 shares in the company, valued at approximately $2,128,784.05. The trade was a 16.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MD shares. Mizuho raised their price objective on Pediatrix Medical Group from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. UBS Group upped their target price on Pediatrix Medical Group from $10.50 to $16.50 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. StockNews.com lowered shares of Pediatrix Medical Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 19th. Truist Financial lifted their price objective on Pediatrix Medical Group from $13.00 to $16.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their target price on Pediatrix Medical Group from $14.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Pediatrix Medical Group presently has an average rating of “Hold” and an average price target of $16.42.

Pediatrix Medical Group Stock Down 2.1 %

Shares of NYSE MD opened at $13.21 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $1.13 billion, a P/E ratio of -4.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.57. The company’s 50 day moving average price is $14.30 and its 200-day moving average price is $11.26. Pediatrix Medical Group, Inc. has a 52-week low of $6.62 and a 52-week high of $16.41.

Pediatrix Medical Group (NYSE:MD) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $511.20 million during the quarter, compared to the consensus estimate of $498.87 million. Pediatrix Medical Group had a negative net margin of 12.65% and a positive return on equity of 12.79%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Equities analysts forecast that Pediatrix Medical Group, Inc. will post 1.26 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.