Summit Creek Advisors LLC lowered its position in MiMedx Group, Inc (NASDAQ:MDXG) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 344,551 shares of the medical equipment provider’s stock after selling 26,572 shares during the period. Summit Creek Advisors LLC owned about 0.33% of MiMedx Group worth $5,158,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of MiMedx Group by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 11,100 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 140 shares during the period. Victory Capital Management Inc. increased its stake in shares of 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 buying an additional 1,952 shares during the period. Tudor Investment Corp Et Al acquired a new stake in shares of MiMedx Group during the fourth quarter worth about $159,000. LS Investment Advisors LLC increased its stake in shares of 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 buying an additional 14,415 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in shares of MiMedx Group during the first quarter worth about $189,000. 53.75% of the stock is owned by institutional investors.
MiMedx Group, Inc (NASDAQ:MDXG) traded up 2.26% during mid-day trading on Friday, hitting $14.96. The stock had a trading volume of 979,755 shares. The company has a 50 day moving average price of $14.97 and a 200 day moving average price of $11.99. The stock has a market cap of $1.60 billion, a P/E ratio of 78.74 and a beta of 1.03. MiMedx Group, Inc has a one year low of $6.94 and a one year high of $16.20.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The business had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $74.22 million. During the same quarter last year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. On average, equities analysts anticipate that MiMedx Group, Inc will post $0.31 EPS for the current year.
MiMedx Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that authorizes the company to buyback $14.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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A number of brokerages have issued reports on MDXG. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $20.00 price target on shares of MiMedx Group in a report on Sunday, July 30th. 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 report on Friday, July 28th. Finally, First Analysis downgraded MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price target for the company. in a report on Tuesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. MiMedx Group currently has a consensus rating of “Hold” and a consensus price target of $13.33.
In other news, insider William Charles Taylor sold 26,571 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $13.74, for a total transaction of $365,085.54. Following the transaction, the insider now owns 533,612 shares of the company’s stock, valued at $7,331,828.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.40% of the company’s stock.
About MiMedx Group
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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