Bank of New York Mellon Corp Trims Stake in Pediatrix Medical Group, Inc. (NYSE:MD)

Bank of New York Mellon Corp reduced its position in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,277 shares of the company’s stock after selling 39,413 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Pediatrix Medical Group worth $8,243,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Pediatrix Medical Group by 1.4% during the 3rd quarter. State Street Corp now owns 3,540,791 shares of the company’s stock worth $41,038,000 after acquiring an additional 50,597 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Pediatrix Medical Group by 51.6% during the 4th quarter. Nordea Investment Management AB now owns 263,633 shares of the company’s stock worth $3,504,000 after acquiring an additional 89,739 shares during the last quarter. Barclays PLC lifted its holdings in shares of Pediatrix Medical Group by 302.9% during the 3rd quarter. Barclays PLC now owns 142,087 shares of the company’s stock worth $1,646,000 after acquiring an additional 106,817 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Pediatrix Medical Group during the 3rd quarter worth $598,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Pediatrix Medical Group by 14.1% during the 3rd quarter. Principal Financial Group Inc. now owns 513,618 shares of the company’s stock worth $5,953,000 after acquiring an additional 63,581 shares during the last quarter. 97.71% of the stock is owned by institutional investors.

Pediatrix Medical Group Stock Performance

Shares of NYSE:MD opened at $13.71 on Friday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -11.42, a price-to-earnings-growth ratio of 1.74 and a beta of 1.48. The company has a 50-day moving average price of $14.15 and a 200-day moving average price of $13.38. The company has a current ratio of 1.60, a quick ratio of 1.42 and a debt-to-equity ratio of 0.81. Pediatrix Medical Group, Inc. has a 12 month low of $6.62 and a 12 month high of $17.67.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $502.36 million during the quarter, compared to the consensus estimate of $486.22 million. Pediatrix Medical Group had a negative net margin of 4.92% and a positive return on equity of 15.47%. As a group, equities analysts anticipate that Pediatrix Medical Group, Inc. will post 1.38 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on MD shares. Macquarie started coverage on shares of Pediatrix Medical Group in a research note on Monday, December 16th. They issued an “outperform” rating and a $18.00 price target for the company. StockNews.com raised shares of Pediatrix Medical Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. UBS Group boosted their price target on shares of Pediatrix Medical Group from $16.50 to $18.50 and gave the stock a “neutral” rating in a research note on Friday, February 21st. Mizuho boosted their price target on shares of Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Truist Financial boosted their price target on shares of Pediatrix Medical Group from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.08.

Pediatrix Medical Group Company Profile

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.