Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PETIT PARKER H
   2. Issuer Name and Ticker or Trading Symbol
MATRIA HEALTHCARE INC [MATR] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman of the Board and CEO
(Last)
(First)
(Middle)
1850 PARKWAY PLACE		 3. Date of Earliest Transaction (Month/Day/Year)
05/05/2006
(Street)

MARIETTA, GA 30067		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (1) 05/05/2006   D   90,000 D $ 0 798,506 D  
Common Stock (2) 08/08/1988   J   0 A $ 0 3,750 I Petit Grantor Trust
Common Stock (2) 08/08/1988   J   0 A $ 0 73,832 I Limited Partnership
Common Stock (2) 08/08/1988   J   0 A $ 0 6,720 I By Spouse
Common Stock (1) 05/05/2006   A   90,000 A $ 0 90,000 I Cox Road Partners, LLLP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (right to buy) $ 14.33 12/15/1997   J   1,875   12/15/1998 12/15/2007 Common Stock 1,875 $ 14.33 1,875 D  
Option (right to buy) $ 14 02/24/1998   J   22,500   02/24/1999 02/24/2008 Common Stock 22,500 $ 14 22,500 D  
Option (right to buy) $ 12.16 05/18/1998   J   3,750   05/18/1999 05/18/2008 Common Stock 3,750 $ 12.16 3,750 D  
Option (right to buy) $ 11 01/19/1999   J   22,500   01/19/2000 01/19/2009 Common Stock 22,500 $ 11 22,500 D  
Option (right to buy) $ 16 07/23/1999   J   3,750   07/23/2000 07/23/2009 Common Stock 3,750 $ 16 3,750 D  
Option (right to buy) $ 12 05/18/2000   J   3,750   05/18/2001 05/18/2010 Common Stock 3,750 $ 12 3,750 D  
Option (right to buy) $ 9.33 10/04/2000   J   27,011   10/04/2004 10/04/2010 Common Stock 27,011 $ 9.33 27,011 D  
Option (right to buy) $ 9.75 02/06/2001   J   46,892   02/16/2005 02/16/2011 Common Stock 46,892 $ 9.75 46,892 D  
Option (right to buy) $ 10.57 05/24/2001   J   300,000   05/24/2005 05/24/2011 Common Stock 300,000 $ 10.57 300,000 D  
Option (right to buy) $ 12.37 02/19/2002   J   36,503   02/19/2006 02/19/2012 Common Stock 36,503 $ 12.37 36,503 D  
Option (right to buy) (3) $ 5.84 03/12/2003   J   69,001   03/12/2008 03/12/2013 Common Stock 69,001 $ 5.84 69,001 D  
Option (right to buy) (4) $ 13.58 12/18/2003   J   58,253   12/18/2008 12/18/2013 Common Stock 58,253 $ 13.58 58,253 D  
Option (right to buy) (5) $ 16.79 08/11/2004   J   58,126   08/11/2009 08/11/2014 Common Stock 58,126 $ 16.79 58,126 D  
Option (right to buy) (6) $ 29.97 06/08/2005   J   58,500   06/08/2010 06/08/2015 Common Stock 58,500 $ 29.97 58,500 D  
Option (right to buy) (7) $ 34.67 11/08/2005   J   150,000   11/08/2008 11/08/2015 Common Stock 150,000 $ 34.67 150,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PETIT PARKER H
1850 PARKWAY PLACE
MARIETTA, GA 30067		   X     Chairman of the Board and CEO  

Signatures

 Parker H. Petit   05/09/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Transferred to family limited partnership for which Mr. Petit serves as managing member.
(2) No transaction to report.
(3) Granted 3/13/2003 and vests 20% per annum thereafter.
(4) Granted 12/18/2003 and vests 20% per annum thereafter.
(5) Granted 8/11/2004 and vests 20% per annum thereafter.
(6) Granted 6/8/2005 and vests 20% per annum thereafter.
(7) Granted on 11/08/2005 and vests 33 1/3% per annum thereafter.

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