Comerica Bank lessened its holdings in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 107,458 shares of the medical equipment provider’s stock after selling 3,609 shares during the period. Comerica Bank owned approximately 0.10% of MiMedx Group worth $1,613,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of MDXG. State of Alaska Department of Revenue lifted its position in shares of MiMedx Group by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 11,100 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 140 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of MiMedx Group by 15.4% during the 1st quarter. Victory Capital Management Inc. now owns 14,616 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 1,952 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of MiMedx Group by 343.5% during the 1st quarter. LS Investment Advisors LLC now owns 18,611 shares of the medical equipment provider’s stock worth $177,000 after purchasing an additional 14,415 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of MiMedx Group during the 1st quarter worth about $189,000. Finally, Cutter & CO Brokerage Inc. lifted its position in shares of MiMedx Group by 5.2% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 20,150 shares of the medical equipment provider’s stock worth $192,000 after purchasing an additional 1,000 shares during the last quarter. 60.35% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on MDXG. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Needham & Company LLC boosted their price objective on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 5th. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research report on Sunday, August 20th. Lake Street Capital boosted their price objective on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, First Analysis cut MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a research report on Tuesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.83.
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MiMedx Group, Inc (NASDAQ:MDXG) opened at 14.16 on Wednesday. The firm has a 50-day moving average price of $15.59 and a 200 day moving average price of $13.21. MiMedx Group, Inc has a 12-month low of $7.64 and a 12-month high of $17.47. The firm has a market cap of $1.52 billion, a PE ratio of 74.53 and a beta of 0.98.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. The company had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $74.22 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue was up 33.3% on a year-over-year basis. Equities research analysts forecast that MiMedx Group, Inc will post $0.31 EPS for the current year.
MiMedx Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 26th that permits the company to buyback $14.00 million in shares. This buyback authorization permits the medical equipment provider to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
MiMedx Group Company Profile
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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