Alps Advisors Inc. Cuts Position in MiMedx Group Inc. (MDXG)
Alps Advisors Inc. lowered its position in MiMedx Group Inc. (NASDAQ:MDXG) by 3.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,426 shares of the company’s stock after selling 1,743 shares during the period. Alps Advisors Inc.’s holdings in MiMedx Group were worth $402,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of MDXG. Eqis Capital Management Inc. purchased a new position in shares of MiMedx Group during the second quarter worth about $288,000. BlackRock Institutional Trust Company N.A. boosted its position in shares of MiMedx Group by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,679,090 shares of the company’s stock worth $23,415,000 after buying an additional 27,074 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of MiMedx Group by 2.1% in the first quarter. Prudential Financial Inc. now owns 235,600 shares of the company’s stock worth $2,059,000 after buying an additional 4,800 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of MiMedx Group by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the company’s stock worth $352,000 after buying an additional 700 shares in the last quarter. Finally, Nisa Investment Advisors L.L.C. purchased a new position in shares of MiMedx Group during the first quarter worth about $445,000. Hedge funds and other institutional investors own 44.35% of the company’s stock.
Shares of MiMedx Group Inc. (NASDAQ:MDXG) traded down 0.34% during trading on Friday, reaching $8.83. The company’s stock had a trading volume of 447,268 shares. The firm has a market cap of $971.67 million, a P/E ratio of 41.85 and a beta of 0.70. The stock’s 50 day moving average is $8.24 and its 200 day moving average is $7.91. MiMedx Group Inc. has a one year low of $6.64 and a one year high of $10.00.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. The company earned $57 million during the quarter, compared to analysts’ expectations of $56.49 million. MiMedx Group had a return on equity of 22.16% and a net margin of 10.92%. MiMedx Group’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. On average, equities analysts forecast that MiMedx Group Inc. will post $0.22 EPS for the current fiscal year.
A number of equities analysts recently issued reports on MDXG shares. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price on shares of MiMedx Group in a report on Wednesday, August 31st. Zacks Investment Research upgraded MiMedx Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Brean Capital reiterated a “buy” rating on shares of MiMedx Group in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $10.89.
In other MiMedx Group news, insider William Charles Taylor sold 29,112 shares of MiMedx Group stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $7.55, for a total value of $219,795.60. Following the transaction, the insider now directly owns 612,316 shares of the company’s stock, valued at approximately $4,622,985.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.30% of the stock is owned by company insiders.
MiMedx Group Company Profile
MiMedx Group, Inc (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories.
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