Wedge Capital Management L L P NC Raises Position in Pediatrix Medical Group, Inc. (NYSE:MD)

Wedge Capital Management L L P NC grew its holdings in Pediatrix Medical Group, Inc. (NYSE:MD) by 66.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,988 shares of the company’s stock after purchasing an additional 32,831 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Pediatrix Medical Group were worth $762,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new position in Pediatrix Medical Group in the 3rd quarter worth approximately $84,000. Equita Financial Network Inc. acquired a new stake in shares of Pediatrix Medical Group during the 3rd quarter worth approximately $128,000. AXQ Capital LP acquired a new stake in shares of Pediatrix Medical Group during the 3rd quarter worth approximately $135,000. TD Asset Management Inc acquired a new stake in shares of Pediatrix Medical Group during the 3rd quarter worth approximately $167,000. Finally, Corton Capital Inc. increased its holdings in shares of Pediatrix Medical Group by 46.6% during the 3rd quarter. Corton Capital Inc. now owns 15,180 shares of the company’s stock worth $193,000 after buying an additional 4,828 shares during the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.

Pediatrix Medical Group Price Performance

Shares of NYSE:MD opened at $8.89 on Friday. The company has a 50-day simple moving average of $9.21 and a 200-day simple moving average of $9.64. Pediatrix Medical Group, Inc. has a one year low of $7.70 and a one year high of $15.06. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.73.

Pediatrix Medical Group (NYSE:MD) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Pediatrix Medical Group had a negative net margin of 3.03% and a positive return on equity of 10.35%. The business had revenue of $496.44 million for the quarter, compared to analyst estimates of $524.30 million. During the same period in the previous year, the business posted $0.46 earnings per share. The business’s revenue was down 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that Pediatrix Medical Group, Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on MD shares. Truist Financial dropped their price target on shares of Pediatrix Medical Group from $10.50 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, February 21st. TheStreet cut shares of Pediatrix Medical Group from a “c” rating to a “d” rating in a research report on Friday, February 23rd. Jefferies Financial Group reduced their price target on shares of Pediatrix Medical Group from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Finally, Mizuho reduced their target price on shares of Pediatrix Medical Group from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.30.

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.