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

Principal Financial Group Inc. grew its stake in Pediatrix Medical Group, Inc. (NYSE:MD) by 14.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 513,618 shares of the company’s stock after buying 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 quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Rubric Capital Management LP lifted its position in Pediatrix Medical Group by 1.5% during the 3rd quarter. Rubric Capital Management LP now owns 8,275,000 shares of the company’s stock worth $95,907,000 after acquiring an additional 125,000 shares during the period. State Street Corp lifted its holdings in shares of Pediatrix Medical Group by 1.4% during the third quarter. State Street Corp now owns 3,540,791 shares of the company’s stock worth $41,038,000 after purchasing an additional 50,597 shares during the period. Geode Capital Management LLC boosted its position in Pediatrix Medical Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,936,751 shares of the company’s stock valued at $22,452,000 after buying an additional 45,155 shares during the last quarter. Dana Investment Advisors Inc. increased its holdings in Pediatrix Medical Group by 80.3% in the 2nd quarter. Dana Investment Advisors Inc. now owns 1,023,136 shares of the company’s stock worth $7,725,000 after buying an additional 455,785 shares during the period. Finally, Weiss Asset Management LP raised its position in Pediatrix Medical Group by 50.5% during the 3rd quarter. Weiss Asset Management LP now owns 912,818 shares of the company’s stock worth $10,580,000 after buying an additional 306,143 shares during the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Pediatrix Medical Group Price Performance

Shares of Pediatrix Medical Group stock opened at $13.12 on Thursday. The firm has a market cap of $1.13 billion, a PE ratio of -4.29, a P/E/G ratio of 2.00 and a beta of 1.57. The business has a 50-day moving average price of $14.33 and a 200 day moving average price of $11.35. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.83. Pediatrix Medical Group, Inc. has a twelve month low of $6.62 and a twelve month high of $16.41.

Pediatrix Medical Group (NYSE:MD) last announced its earnings results on Friday, November 1st. The company reported $0.44 earnings per share for the quarter, topping 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 business had revenue of $511.20 million during the quarter, compared to the consensus estimate of $498.87 million. During the same period in the prior year, the company posted $0.29 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Pediatrix Medical Group, Inc. will post 1.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on MD shares. Macquarie assumed coverage on shares of Pediatrix Medical Group in a report on Monday, December 16th. They issued an “outperform” rating and a $18.00 price objective on the stock. Jefferies Financial Group upped their price target 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. Mizuho lifted their price objective on Pediatrix Medical Group from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. StockNews.com downgraded Pediatrix Medical Group from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th. Finally, Truist Financial lifted their price target on Pediatrix Medical Group from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.42.

Insider Buying and Selling at Pediatrix Medical Group

In related news, Director Mark S. Ordan sold 27,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $15.35, for a total value of $423,660.00. Following the completion of the transaction, the director now directly owns 138,683 shares of the company’s stock, valued at approximately $2,128,784.05. This represents a 16.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mary Ann E. Moore sold 8,108 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were 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. The trade was a 5.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.