Lazard Asset Management LLC Sells 264,718 Shares of MiMedx Group, Inc $MDXG

Lazard Asset Management LLC lessened its stake in MiMedx Group, Inc (NASDAQ:MDXG) by 38.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,706 shares of the company’s stock after selling 264,718 shares during the period. Lazard Asset Management LLC’s holdings in MiMedx Group were worth $1,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in MiMedx Group by 433.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 289,199 shares of the company’s stock worth $1,958,000 after buying an additional 234,958 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of MiMedx Group in the 4th quarter valued at approximately $7,134,000. Renaissance Technologies LLC increased its stake in shares of MiMedx Group by 22.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,019,871 shares of the company’s stock worth $11,928,000 after purchasing an additional 552,806 shares during the last quarter. Vanguard Group Inc. raised its stake in MiMedx Group by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 7,184,262 shares of the company’s stock valued at $48,637,000 after buying an additional 382,623 shares during the period. Finally, OP Asset Management Ltd bought a new stake in MiMedx Group in the 1st quarter valued at $2,406,000. 79.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Saturday. Citizens Jmp dropped their price target on MiMedx Group from $7.00 to $6.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Craig Hallum cut their price objective on shares of MiMedx Group from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, Weiss Ratings lowered shares of MiMedx Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 18th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

MiMedx Group Trading Up 3.4%

Shares of MDXG stock opened at $4.27 on Tuesday. MiMedx Group, Inc has a 1-year low of $3.03 and a 1-year high of $7.97. The company has a current ratio of 5.33, a quick ratio of 4.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $622.40 million, a price-to-earnings ratio of 106.78 and a beta of 1.45. The stock has a 50-day moving average of $3.94 and a 200-day moving average of $4.22.

MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Wednesday, July 29th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $64.36 million for the quarter, compared to analysts’ expectations of $63.46 million. MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%. On average, equities research analysts forecast that MiMedx Group, Inc will post -0.09 earnings per share for the current year.

MiMedx Group Company Profile

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.