Federated Hermes Inc. Cuts Stake in Pediatrix Medical Group, Inc. (NYSE:MD)

Federated Hermes Inc. lessened its stake in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 28.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,532 shares of the company's stock after selling 64,702 shares during the quarter. Federated Hermes Inc. owned 0.19% of Pediatrix Medical Group worth $1,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MD. nVerses Capital LLC purchased a new stake in Pediatrix Medical Group during the second quarter worth $31,000. Innealta Capital LLC purchased a new stake in shares of Pediatrix Medical Group in the 2nd quarter worth about $33,000. Nisa Investment Advisors LLC grew its stake in Pediatrix Medical Group by 47.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,755 shares of the company's stock valued at $36,000 after acquiring an additional 1,524 shares during the last quarter. Virtu Financial LLC purchased a new position in Pediatrix Medical Group during the 1st quarter valued at about $124,000. Finally, Jump Financial LLC acquired a new position in Pediatrix Medical Group during the fourth quarter worth about $154,000. Institutional investors and hedge funds own 97.71% of the company's stock.

Pediatrix Medical Group Trading Down 2.9 %

MD stock traded down $0.31 during midday trading on Friday, hitting $10.56. The stock had a trading volume of 2,139,314 shares, compared to its average volume of 508,393. The company's 50-day moving average price is $9.71 and its 200 day moving average price is $8.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $888.59 million, a PE ratio of -12.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.56. 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 - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $504.30 million during the quarter, compared to analyst estimates of $505.49 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The business's quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts predict that Pediatrix Medical Group, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In other Pediatrix Medical Group news, 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 transaction of $78,120.00. Following the transaction, the director now owns 30,805 shares of the company's stock, valued at $343,783.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pediatrix Medical Group news, 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 transaction of $78,120.00. Following the completion of the sale, the director now owns 30,805 shares of the company's stock, valued at $343,783.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James D. Swift sold 11,100 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $10.79, for a total value of $119,769.00. Following the completion of the transaction, the chief executive officer now owns 170,001 shares in the company, valued at $1,834,310.79. The disclosure for this sale can be found here. Insiders sold a total of 68,100 shares of company stock valued at $701,889 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MD. Deutsche Bank Aktiengesellschaft upgraded shares of Pediatrix Medical Group from a "sell" rating to a "hold" rating and set a $8.00 price target on the stock in a research report on Friday, June 7th. Truist Financial increased 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. StockNews.com raised Pediatrix Medical Group from a "sell" rating to a "hold" rating in a report on Wednesday, August 7th. Finally, UBS Group upped their price objective on Pediatrix Medical Group from $9.00 to $10.50 and gave the company a "neutral" rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $9.30.

Pediatrix Medical Group 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.