Principal Financial Group Inc. Has $5.95 Million Stake in Pediatrix Medical Group, Inc. (NYSE:MD)

Principal Financial Group Inc. raised its stake in shares of Pediatrix Medical Group, Inc. (NYSE:MD) by 14.1% in the third quarter, Holdings Channel reports. The fund owned 513,618 shares of the company’s stock after acquiring an additional 63,581 shares during the period. Principal Financial Group Inc.’s holdings in Pediatrix Medical Group were worth $5,953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rubric Capital Management LP grew its position in Pediatrix Medical Group by 797.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,150,000 shares of the company’s stock worth $61,532,000 after acquiring an additional 7,241,400 shares during the last quarter. Dana Investment Advisors Inc. increased its stake in shares of Pediatrix Medical Group by 80.3% in the second quarter. Dana Investment Advisors Inc. now owns 1,023,136 shares of the company’s stock valued at $7,725,000 after buying an additional 455,785 shares in the last quarter. Boston Partners raised its holdings in shares of Pediatrix Medical Group by 34.0% in the first quarter. Boston Partners now owns 1,786,434 shares of the company’s stock valued at $17,702,000 after buying an additional 453,254 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Pediatrix Medical Group by 639.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 290,336 shares of the company’s stock worth $2,192,000 after buying an additional 251,072 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in Pediatrix Medical Group during the 2nd quarter worth about $1,721,000. Institutional investors and hedge funds own 97.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Pediatrix Medical Group from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Jefferies Financial Group increased their price objective on Pediatrix Medical Group from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on Pediatrix Medical Group from $9.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Mizuho lifted their price objective on Pediatrix Medical Group from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of Pediatrix Medical Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Pediatrix Medical Group presently has an average rating of “Hold” and an average price target of $16.10.

Pediatrix Medical Group Price Performance

Shares of NYSE MD opened at $14.49 on Thursday. The company has a fifty day moving average price of $12.77 and a 200 day moving average price of $9.96. Pediatrix Medical Group, Inc. has a 1-year low of $6.62 and a 1-year high of $16.41. The firm has a market cap of $1.24 billion, a PE ratio of -4.74, a PEG ratio of 2.03 and a beta of 1.55. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.83.

Pediatrix Medical Group (NYSE:MD) last released its quarterly earnings results on Friday, November 1st. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Pediatrix Medical Group had a positive return on equity of 12.79% and a negative net margin of 12.65%. The firm had revenue of $511.20 million during the quarter, compared to the consensus estimate of $498.87 million. During the same quarter in the prior year, the firm posted $0.29 EPS. The business’s revenue was up .9% on a year-over-year basis. Research analysts predict that Pediatrix Medical Group, Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Activity at Pediatrix Medical Group

In other news, EVP Mary Ann E. Moore sold 8,108 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $129,728.00. Following the completion of the transaction, the executive vice president now owns 135,810 shares in the company, valued at $2,172,960. This trade represents a 5.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura A. Linynsky sold 7,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.16, for a total value of $78,120.00. Following the transaction, the director now directly owns 30,805 shares of the company’s stock, valued at $343,783.80. This trade represents a 18.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,808 shares of company stock valued at $751,277. Corporate insiders own 2.00% of the company’s stock.

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.