Summit Creek Advisors LLC Purchases 184,334 Shares of MiMedx Group Inc (MDXG)
Summit Creek Advisors LLC grew its position in shares of MiMedx Group Inc (NASDAQ:MDXG) by 53.8% in the fourth quarter, Holdings Channel reports. The fund owned 527,240 shares of the medical equipment provider’s stock after acquiring an additional 184,334 shares during the period. Summit Creek Advisors LLC’s holdings in MiMedx Group were worth $6,648,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in MDXG. Acrospire Investment Management LLC boosted its position in MiMedx Group by 678.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 5,900 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of MiMedx Group in the 2nd quarter valued at approximately $109,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of MiMedx Group in the 3rd quarter valued at approximately $119,000. PVG Asset Management Corp acquired a new stake in shares of MiMedx Group in the 3rd quarter valued at approximately $127,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of MiMedx Group by 7.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 600 shares during the last quarter. 69.22% of the stock is owned by hedge funds and other institutional investors.
MiMedx Group Inc (MDXG) traded down $0.08 during midday trading on Tuesday, hitting $13.86. The stock had a trading volume of 1,689,100 shares, compared to its average volume of 1,980,900. The firm has a market cap of $1,530.00, a P/E ratio of 46.20, a PEG ratio of 1.80 and a beta of 0.88. MiMedx Group Inc has a 12 month low of $7.64 and a 12 month high of $17.47.
MiMedx Group announced that its board has authorized a share repurchase plan on Monday, October 9th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Several research firms have recently commented on MDXG. BidaskClub raised MiMedx Group from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research downgraded MiMedx Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price objective on shares of MiMedx Group in a report on Monday, October 30th. Lake Street Capital set a $18.00 price objective on MiMedx Group and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.00.
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MiMedx Group 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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