Washington Trust Bank continued to hold its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the medical equipment provider’s stock at the end of the second quarter. Washington Trust Bank’s holdings in MiMedx Group were worth $105,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Comerica Bank raised its stake in MiMedx Group by 5.5% in the fourth quarter. Comerica Bank now owns 107,442 shares of the medical equipment provider’s stock worth $942,000 after buying an additional 5,568 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in MiMedx Group by 56.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 74,013 shares of the medical equipment provider’s stock worth $656,000 after buying an additional 26,713 shares during the last quarter. Teachers Advisors LLC raised its stake in MiMedx Group by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 209,027 shares of the medical equipment provider’s stock worth $1,852,000 after buying an additional 3,438 shares during the last quarter. OppenheimerFunds Inc. raised its stake in MiMedx Group by 45.2% in the first quarter. OppenheimerFunds Inc. now owns 22,860 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 7,112 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in MiMedx Group by 9.5% in the first quarter. Wells Fargo & Company MN now owns 471,131 shares of the medical equipment provider’s stock worth $4,491,000 after buying an additional 41,028 shares during the last quarter. 53.75% of the stock is currently owned by institutional investors.
MiMedx Group, Inc (NASDAQ:MDXG) traded up 2.26% on Friday, hitting $14.96. 979,755 shares of the company were exchanged. MiMedx Group, Inc has a 52 week low of $6.94 and a 52 week high of $16.20. The stock has a 50 day moving average of $14.97 and a 200 day moving average of $11.99. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 78.74 and a beta of 1.03.
MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The business’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. Analysts predict that MiMedx Group, Inc will post $0.31 EPS for the current fiscal year.
MiMedx Group announced that its board has authorized a stock repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $14.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
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A number of equities research analysts have recently commented on MDXG shares. BidaskClub raised shares of MiMedx Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of MiMedx Group in a research note on Wednesday, April 26th. First Analysis lowered shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a research note on Tuesday, May 23rd. Finally, Lake Street Capital upped their price objective on shares of MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.33.
In related news, insider William Charles Taylor sold 80,000 shares of MiMedx Group stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $14.52, for a total value of $1,161,600.00. Following the sale, the insider now owns 547,424 shares in the company, valued at $7,948,596.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.40% of the company’s stock.
About MiMedx Group
MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.
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