Principal Financial Group Inc. Increases Stock Position in Pediatrix Medical Group, Inc. (NYSE:MD)

Principal Financial Group Inc. grew its position in Pediatrix Medical Group, Inc. (NYSE:MD - Free Report) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 513,618 shares of the company's stock after purchasing an additional 63,581 shares during the quarter. Principal Financial Group Inc. owned approximately 0.60% of Pediatrix Medical Group worth $5,953,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Pediatrix Medical Group during the 2nd quarter worth approximately $31,000. Innealta Capital LLC acquired a new stake in Pediatrix Medical Group in the second quarter worth $33,000. Nisa Investment Advisors LLC increased its stake in Pediatrix Medical Group by 47.2% in the second quarter. Nisa Investment Advisors LLC now owns 4,755 shares of the company's stock valued at $36,000 after purchasing an additional 1,524 shares in the last quarter. CWM LLC raised its holdings in shares of Pediatrix Medical Group by 134.0% during the third quarter. CWM LLC now owns 6,427 shares of the company's stock valued at $74,000 after purchasing an additional 3,681 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Pediatrix Medical Group in the 2nd quarter valued at about $72,000. Institutional investors own 97.71% of the company's stock.

Pediatrix Medical Group Trading Down 0.8 %

NYSE MD opened at $14.49 on Thursday. The firm has a market cap of $1.24 billion, a PE ratio of -4.74, a price-to-earnings-growth ratio of 2.03 and a beta of 1.55. Pediatrix Medical Group, Inc. has a 1-year low of $6.62 and a 1-year high of $16.41. The stock has a 50-day moving average of $12.77 and a 200-day moving average of $9.96. 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 - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 previous year, the company posted $0.29 earnings per share. The business's revenue was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that Pediatrix Medical Group, Inc. will post 1.25 EPS for the current year.

Wall Street Analyst Weigh In

MD has been the subject of several recent research reports. Truist Financial boosted 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. StockNews.com downgraded shares of Pediatrix Medical Group from a "buy" rating to a "hold" rating in a report on Thursday. Jefferies Financial Group lifted their price objective on shares of Pediatrix Medical Group from $14.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. UBS Group lifted their price target on Pediatrix Medical Group from $10.50 to $16.50 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Pediatrix Medical Group from $9.00 to $15.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.10.

Insiders Place Their Bets

In other news, CEO James D. Swift sold 11,100 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $10.79, for a total transaction of $119,769.00. Following the transaction, the chief executive officer now directly owns 170,001 shares of the company's stock, valued at approximately $1,834,310.79. The trade was a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark S. Ordan sold 27,600 shares of Pediatrix Medical Group stock in a transaction on 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 sale, the director now owns 138,683 shares in the company, valued at approximately $2,128,784.05. This trade represents a 16.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,808 shares of company stock valued at $751,277 in the last quarter. 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.