Raymond James Financial Services Advisors Inc. increased its stake in MiMedx Group Inc (NASDAQ:MDXG) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,037 shares of the medical equipment provider’s stock after purchasing an additional 3,294 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.05% of MiMedx Group worth $719,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PVG Asset Management Corp bought a new stake in MiMedx Group during the third quarter valued at $127,000. Aurora Investment Counsel bought a new stake in MiMedx Group during the fourth quarter valued at $156,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in MiMedx Group by 6,262.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,725 shares of the medical equipment provider’s stock valued at $151,000 after buying an additional 12,525 shares during the period. ClariVest Asset Management LLC boosted its stake in MiMedx Group by 81.1% during the third quarter. ClariVest Asset Management LLC now owns 12,953 shares of the medical equipment provider’s stock valued at $154,000 after buying an additional 5,800 shares during the period. Finally, Nordea Investment Management AB boosted its stake in MiMedx Group by 81.1% during the third quarter. Nordea Investment Management AB now owns 12,953 shares of the medical equipment provider’s stock valued at $154,000 after buying an additional 5,800 shares during the period. Institutional investors own 80.33% of the company’s stock.

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Shares of MiMedx Group Inc (NASDAQ MDXG) opened at $7.37 on Wednesday. MiMedx Group Inc has a 52 week low of $6.05 and a 52 week high of $18.25. The stock has a market capitalization of $841.65, a PE ratio of 36.10 and a beta of 1.65.

MiMedx Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 13th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the medical equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

MDXG has been the subject of several research analyst reports. Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. ValuEngine lowered MiMedx Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Lake Street Capital set a $18.00 price objective on MiMedx Group and gave the company a “buy” rating in a research note on Thursday, December 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price target on shares of MiMedx Group in a research note on Friday, November 24th. Finally, BidaskClub lowered MiMedx Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.75.

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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.

Institutional Ownership by Quarter for MiMedx Group (NASDAQ:MDXG)

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