MiMedx Group, Inc (MDXG) Position Maintained by Fmr LLC
Fmr LLC held its stake in MiMedx Group, Inc (NASDAQ:MDXG) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,477 shares of the medical equipment provider’s stock at the end of the first quarter. Fmr LLC owned approximately 0.05% of MiMedx Group worth $548,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in MDXG. State of Alaska Department of Revenue boosted its stake in MiMedx Group by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 11,100 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 140 shares during the period. Louisiana State Employees Retirement System boosted its stake in MiMedx Group by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the medical equipment provider’s stock worth $389,000 after buying an additional 300 shares during the period. Arizona State Retirement System boosted its stake in MiMedx Group by 0.6% in the first quarter. Arizona State Retirement System now owns 52,216 shares of the medical equipment provider’s stock worth $498,000 after buying an additional 300 shares during the period. Cutter & CO Brokerage Inc. boosted its stake in MiMedx Group by 5.2% in the first quarter. Cutter & CO Brokerage Inc. now owns 20,150 shares of the medical equipment provider’s stock worth $192,000 after buying an additional 1,000 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in MiMedx Group by 6.3% in the first quarter. Mason Street Advisors LLC now owns 23,415 shares of the medical equipment provider’s stock worth $223,000 after buying an additional 1,398 shares during the period. Institutional investors and hedge funds own 53.75% of the company’s stock.
Shares of MiMedx Group, Inc (NASDAQ:MDXG) opened at 15.275 on Tuesday. The company has a 50-day moving average of $15.00 and a 200-day moving average of $11.67. The firm has a market capitalization of $1.64 billion, a PE ratio of 80.395 and a beta of 1.03. MiMedx Group, Inc has a 1-year low of $6.94 and a 1-year high of $16.20.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. The firm had revenue of $76.40 million during the quarter, compared to the consensus estimate of $74.22 million. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 earnings per share. Equities research 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 buyback plan on Wednesday, July 26th that permits the company to repurchase $14.00 million in shares. This repurchase authorization permits the medical equipment provider to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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A number of research firms recently commented on MDXG. Needham & Company LLC reiterated a “strong-buy” rating and issued a $20.00 target price on shares of MiMedx Group in a research note on Sunday, July 30th. Lake Street Capital lifted their target price on shares of MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub upgraded shares of MiMedx Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, First Analysis cut shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 target price for the company. in a research note on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.33.
In related news, insider William Charles Taylor sold 26,571 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $13.74, for a total value of $365,085.54. Following the completion of the transaction, the insider now directly owns 533,612 shares of the company’s stock, valued at $7,331,828.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.40% of the company’s stock.
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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