Parsons Capital Management Inc. RI Has $866,000 Stock Holdings in MiMedx Group, Inc $MDXG

Parsons Capital Management Inc. RI lessened its holdings in MiMedx Group, Inc (NASDAQ:MDXG) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,774 shares of the company’s stock after selling 4,875 shares during the period. Parsons Capital Management Inc. RI owned approximately 0.10% of MiMedx Group worth $866,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Virtus Advisers LLC acquired a new position in MiMedx Group in the first quarter worth about $40,000. Ameriprise Financial Inc. bought a new stake in MiMedx Group during the fourth quarter worth about $115,000. Legato Capital Management LLC bought a new stake in MiMedx Group during the first quarter worth about $101,000. AQR Capital Management LLC grew its stake in MiMedx Group by 42.6% during the first quarter. AQR Capital Management LLC now owns 14,374 shares of the company’s stock worth $109,000 after buying an additional 4,296 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new stake in MiMedx Group during the first quarter worth about $115,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Ratings Changes

MDXG has been the topic of several research analyst reports. Cantor Fitzgerald upped their price objective on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of MiMedx Group from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, MiMedx Group presently has a consensus rating of “Buy” and an average target price of $12.00.

MiMedx Group Price Performance

Shares of MDXG stock opened at $6.71 on Friday. MiMedx Group, Inc has a 52-week low of $5.47 and a 52-week high of $10.14. The stock has a market cap of $992.81 million, a PE ratio of 31.95 and a beta of 1.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.90 and a current ratio of 4.39. The firm’s 50 day moving average price is $7.05 and its two-hundred day moving average price is $6.87.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. MiMedx Group had a net margin of 8.84% and a return on equity of 23.03%. The firm had revenue of $98.61 million for the quarter, compared to analysts’ expectations of $90.79 million. As a group, analysts forecast that MiMedx Group, Inc will post 0.3 EPS for the current year.

MiMedx Group Company 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.