HighMark Wealth Management LLC Grows Stake in MiMedx Group, Inc (NASDAQ:MDXG)

HighMark Wealth Management LLC raised its position in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 1,333.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,000 shares of the company’s stock after purchasing an additional 40,000 shares during the period. HighMark Wealth Management LLC’s holdings in MiMedx Group were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMG Wealth Management Inc. purchased a new position in shares of MiMedx Group during the fourth quarter valued at $28,000. Virtus Fund Advisers LLC purchased a new position in MiMedx Group during the 4th quarter valued at about $35,000. Tower Research Capital LLC TRC increased its position in MiMedx Group by 77.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock valued at $63,000 after purchasing an additional 2,837 shares during the period. AlphaQuest LLC bought a new stake in shares of MiMedx Group in the 4th quarter valued at about $88,000. Finally, Koss Olinger Consulting LLC bought a new stake in shares of MiMedx Group in the 4th quarter valued at about $100,000. 79.15% of the stock is owned by institutional investors.

Insider Activity

In other MiMedx Group news, CEO Joseph H. Capper bought 200,000 shares of MiMedx Group stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average cost of $6.34 per share, with a total value of $1,268,000.00. Following the transaction, the chief executive officer now directly owns 529,530 shares of the company’s stock, valued at approximately $3,357,220.20. This represents a 60.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of MiMedx Group in a research note on Thursday, February 27th. Wall Street Zen upgraded MiMedx Group from a “hold” rating to a “buy” rating in a report on Friday, June 6th.

MiMedx Group Price Performance

MDXG opened at $5.94 on Friday. The firm has a market capitalization of $877.34 million, a PE ratio of 22.00 and a beta of 1.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.70 and a quick ratio of 4.13. The business’s 50-day moving average is $6.57 and its two-hundred day moving average is $7.73. MiMedx Group, Inc has a 1 year low of $5.47 and a 1 year high of $10.14.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $88.21 million during the quarter, compared to analyst estimates of $86.32 million. MiMedx Group had a net margin of 11.40% and a return on equity of 22.70%. Research analysts anticipate that MiMedx Group, Inc will post 0.3 earnings per share for the current fiscal year.

MiMedx Group Profile

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue’s inherent biological properties and regulatory proteins.