Boston Partners has significantly reduced its holdings in Pediatrix Medical Group, Inc. (NYSE:MD) by selling 562,271 shares, a move that represents a 28.4% decrease in its ownership during the second quarter of 2023. This reduction was disclosed in Boston Partners’ latest Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale, the fund retains a total of 1,419,618 shares valued at approximately $19.94 million.
Several other institutional investors have also adjusted their positions in Pediatrix Medical Group. Notably, LPL Financial LLC increased its stake by 55.5% in the first quarter, now owning 144,318 shares valued at $2.09 million. Similarly, Mackenzie Financial Corp raised its holdings by 82.7%, acquiring an additional 17,376 shares for a total of 38,399 shares worth $556,000. Other notable adjustments include XTX Topco Ltd, which boosted its stake by 246.5%, and Natixis Advisors LLC, which grew its position by 8.1%.
Insider trading activity has also marked recent weeks for Pediatrix Medical Group. On November 17, 2023, Director Michael A. Rucker sold 10,478 shares at an average price of $23.00, totaling $240,994. This transaction decreased Rucker’s ownership by 15.06%, leaving him with 59,101 shares valued at approximately $1.36 million. Another director, Laura A. Linynsky, sold 10,000 shares on November 6, 2023, for a total of $216,500, which reduced her position by 23.68%.
As of November 3, 2023, Pediatrix Medical Group’s stock performance reflects a current trading price of $23.97 with a market capitalization of $2.06 billion. The company has shown resilience, reporting earnings of $0.67 per share, surpassing analysts’ expectations of $0.46. Although the revenue of $492.88 million for the quarter was slightly lower than the anticipated $476.45 million, it reflects a strong operational capacity.
Analysts continue to show interest in Pediatrix Medical Group, with various firms adjusting their ratings. Truist Financial raised its target price from $17.00 to $24.00, maintaining a “hold” rating. Zacks Research upgraded the stock from “hold” to “strong-buy,” while UBS Group increased its price objective from $16.50 to $23.00 with a “neutral” rating. Overall, the consensus target price sits at $21.00, with an average rating of “Moderate Buy.”
Pediatrix Medical Group, Inc., along with its subsidiaries, offers a wide range of services focused on newborn and pediatric care across the United States. This includes specialized clinical care for premature infants and those facing complications, delivered by a team of neonatal physician subspecialists and pediatric clinicians. As the landscape of healthcare investment continues to evolve, the actions of institutional and corporate investors will be closely monitored for their potential impact on the company’s future performance.
