Richmond Brothers Inc. Sells 21,452 Shares of MiMedx Group, Inc $MDXG

Richmond Brothers Inc. lessened its stake in MiMedx Group, Inc (NASDAQ:MDXG) by 15.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 120,985 shares of the company’s stock after selling 21,452 shares during the quarter. MiMedx Group accounts for approximately 0.5% of Richmond Brothers Inc.’s holdings, making the stock its 24th largest position. Richmond Brothers Inc.’s holdings in MiMedx Group were worth $739,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MDXG. Alps Advisors Inc. purchased a new position in shares of MiMedx Group during the first quarter valued at about $340,000. New York State Common Retirement Fund lifted its holdings in shares of MiMedx Group by 51.8% in the 1st quarter. New York State Common Retirement Fund now owns 87,781 shares of the company’s stock worth $667,000 after acquiring an additional 29,941 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in shares of MiMedx Group during the first quarter valued at approximately $128,000. Legato Capital Management LLC bought a new position in MiMedx Group in the 1st quarter valued at $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of MiMedx Group by 18.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,713 shares of the company’s stock worth $302,000 after purchasing an additional 6,090 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Transactions at MiMedx Group

In other MiMedx Group news, insider Kimberly Maersk-Moller sold 58,300 shares of MiMedx Group stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $7.42, for a total transaction of $432,586.00. Following the completion of the sale, the insider owned 236,982 shares of the company’s stock, valued at approximately $1,758,406.44. The trade was a 19.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MDXG has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MiMedx Group in a research note on Wednesday, October 8th. Cantor Fitzgerald raised their price target on MiMedx Group from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

MiMedx Group Stock Performance

MDXG opened at $7.49 on Thursday. The company has a market cap of $1.11 billion, a P/E ratio of 27.73 and a beta of 1.70. The company has a quick ratio of 3.90, a current ratio of 4.39 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $7.06 and its 200-day moving average price is $6.83. MiMedx Group, Inc has a 52-week low of $5.79 and a 52-week high of $10.14.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Monday, November 13th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $67.69 million for the quarter. MiMedx Group had a return on equity of 28.35% and a net margin of 10.38%. As a group, equities analysts anticipate that MiMedx Group, Inc will post 0.3 EPS for the current fiscal year.

About MiMedx Group

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue’s inherent biological properties and regulatory proteins.