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 *
MCCAW ROBERTA L
   2. Issuer Name and Ticker or Trading Symbol
MATRIA HEALTHCARE INC [MATR] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP-Legal & Secretary
(Last)
(First)
(Middle)
1850 PARKWAY PLACE		 3. Date of Earliest Transaction (Month/Day/Year)
11/19/2004
(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 11/19/2004   S   1,317 D $ 35 285 D  

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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) $ 22 02/27/1997   J   750   02/27/2000 02/27/2007 Common Stock 750 $ 22 750 D  
Option (right to buy) $ 26.75 10/20/1997   J   2,156   04/01/2000 10/20/2007 Common Stock 2,156 $ 26.75 2,156 D  
Option (right to buy) $ 21 02/24/1998   J   4,019   02/24/2002 02/24/2008 Common Stock 4,019 $ 21 4,019 D  
Option (right to buy) $ 17.5 04/23/1998   J   625   04/23/2002 04/23/2008 Common Stock 625 $ 17.5 625 D  
Option (right to buy) $ 16.5 01/19/1999   J   4,325   01/19/2002 01/19/2009 Common Stock 4,325 $ 16.5 4,325 D  
Option (right to buy) $ 21.5 02/23/2000   J   4,430   02/23/2004 02/23/2010 Common Stock 4,430 $ 21.5 4,430 D  
Option (right to buy) (1) $ 14.63 02/16/2001   J   4,430   02/16/2005 02/16/2011 Common Stock 4,430 $ 14.63 4,430 D  
Option (right to buy) (2) $ 15.85 05/24/2001   J   1,500   05/24/2005 05/24/2011 Common Stock 1,500 $ 15.85 1,500 D  
Option (right to buy) (3) $ 18.91 07/24/2001   J   4,500   07/24/2005 07/24/2011 Common Stock 4,500 $ 18.91 4,500 D  
Option (right to buy) (4) $ 18.55 02/19/2002   J   3,140   02/19/2006 02/19/2012 Common Stock 3,140 $ 18.55 3,140 D  
Option (right to buy) (5) $ 8.76 03/12/2003   J   6,900   03/12/2008 03/12/2013 Common Stock 6,900 $ 8.76 6,900 D  
Option (right to buy) (6) $ 20.37 12/18/2003   J   14,687   12/18/2008 12/18/2013 Common Stock 14,687 $ 20.37 14,687 D  
Option (right to buy) (7) $ 25.18 08/11/2004   A   6,000   08/11/2009 08/11/2014 Common Stock 6,000 $ 25.18 6,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MCCAW ROBERTA L
1850 PARKWAY PLACE
MARIETTA, GA 30067		       VP-Legal & Secretary  

Signatures

 Kim L. Blankenship, Attorney in fact for Roberta L. McCaw   11/23/2004
**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) 2,215 shares vested with remaining shares to vest no later than 2/16/05.
(2) 750 shares vested with remaining shares to vest no later than 05/24/2005.
(3) Granted 07/24/2001 with full vesting to occur no later than 4 years from 07/24/2001 and no sooner than 2 years from 07/24/2001 with accelertion based on Matria's performance.
(4) Granted 02/19/2002 will full vesting to occur no later than 4 years from 02/19/2002 and no sooner than 2 years from 02/19/2002 with acceleration based on Matria's performance.
(5) Granted 03/12/2003 and vests 20% per annum thereafter.
(6) Granted 12/18/2003 and vests 20% per annum thereafter.
(7) Granted 8/11/2004 and vests 20% per annum thereafter.

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