MiMedx Group, Inc (MDXG) Stake Increased by Principal Financial Group Inc.
Principal Financial Group Inc. grew its holdings in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 794,780 shares of the medical equipment provider’s stock after acquiring an additional 15,048 shares during the period. Principal Financial Group Inc. owned about 0.74% of MiMedx Group worth $11,898,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in MDXG. Victory Capital Management Inc. grew its stake in MiMedx Group by 15.4% in the first quarter. Victory Capital Management Inc. now owns 14,616 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 1,952 shares in the last quarter. Great Lakes Advisors LLC acquired a new position in MiMedx Group in the second quarter worth about $163,000. Paradigm Asset Management Co. LLC acquired a new position in MiMedx Group in the second quarter worth about $167,000. LS Investment Advisors LLC grew its stake in MiMedx Group by 343.5% in the first quarter. LS Investment Advisors LLC now owns 18,611 shares of the medical equipment provider’s stock worth $177,000 after purchasing an additional 14,415 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in MiMedx Group in the first quarter worth about $189,000. Institutional investors own 60.35% of the company’s stock.
MiMedx Group, Inc (NASDAQ:MDXG) opened at 12.63 on Friday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 66.47 and a beta of 0.98. The company has a 50-day moving average price of $15.39 and a 200-day moving average price of $13.44. MiMedx Group, Inc has a 1-year low of $7.64 and a 1-year high of $17.47.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.07. The business had revenue of $76.40 million during the quarter, compared to analyst estimates of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, equities research analysts predict that MiMedx Group, Inc will post $0.31 earnings per share for the current fiscal year.
MiMedx Group declared that its Board of Directors has approved a share buyback plan on Wednesday, July 26th that authorizes the company to buyback $14.00 million in shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
MDXG has been the subject of a number of research reports. Needham & Company LLC lifted their price target on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 5th. BidaskClub downgraded MiMedx Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Lake Street Capital lifted their price target on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $18.00 price target on shares of MiMedx Group in a research note on Sunday, August 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. MiMedx Group currently has an average rating of “Hold” and an average price target of $14.83.
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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