MiMedx Group, Inc (MDXG) Stake Reduced by Berkeley Capital Partners LLC
Berkeley Capital Partners LLC reduced its position in MiMedx Group, Inc (NASDAQ:MDXG) by 31.6% during the second quarter, Holdings Channel reports. The firm owned 34,538 shares of the medical equipment provider’s stock after selling 15,928 shares during the period. Berkeley Capital Partners LLC’s holdings in MiMedx Group were worth $517,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in MiMedx Group by 136,884.9% in the first quarter. BlackRock Inc. now owns 12,105,354 shares of the medical equipment provider’s stock worth $115,364,000 after buying an additional 12,096,517 shares during the period. Tiedemann Wealth Management LLC raised its stake in MiMedx Group by 3,943.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,796,342 shares of the medical equipment provider’s stock worth $17,409,000 after buying an additional 1,751,913 shares during the period. Wellington Management Group LLP raised its stake in MiMedx Group by 53.1% in the first quarter. Wellington Management Group LLP now owns 2,215,575 shares of the medical equipment provider’s stock worth $21,114,000 after buying an additional 768,857 shares during the period. Macquarie Group Ltd. raised its stake in MiMedx Group by 21.1% in the first quarter. Macquarie Group Ltd. now owns 3,544,519 shares of the medical equipment provider’s stock worth $33,779,000 after buying an additional 618,222 shares during the period. Finally, Paradigm Capital Management Inc. NY raised its stake in MiMedx Group by 20.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,656,000 shares of the medical equipment provider’s stock worth $15,782,000 after buying an additional 285,200 shares during the period. 53.75% of the stock is currently owned by institutional investors.
MiMedx Group, Inc (MDXG) opened at 14.96 on Friday. The stock’s 50 day moving average is $14.97 and its 200-day moving average is $11.99. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 78.74 and a beta of 1.03. MiMedx Group, Inc has a 12 month low of $6.94 and a 12 month high of $16.20.
MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The firm had revenue of $76.40 million for the quarter, compared to the consensus estimate of $74.22 million. During the same period in the prior year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities research analysts expect that MiMedx Group, Inc will post $0.31 earnings per share for the current year.
MiMedx Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 26th that allows the company to buyback $14.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
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MDXG has been the topic of a number of research reports. First Analysis lowered shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 target price on the stock. in a research report on Tuesday, May 23rd. BidaskClub lowered shares of MiMedx Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of MiMedx Group in a research report on Wednesday, April 26th. Finally, Lake Street Capital raised their target price on shares of MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company has a consensus 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 shares were sold at an average price of $13.74, for a total transaction of $365,085.54. Following the sale, the insider now directly owns 533,612 shares of the company’s stock, valued at approximately $7,331,828.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.40% of the stock is owned by corporate insiders.
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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