Patten & Patten Inc. TN held its position in shares of MiMedx Group, Inc (NASDAQ:MDXG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,800 shares of the medical equipment provider’s stock at the end of the second quarter. Patten & Patten Inc. TN’s holdings in MiMedx Group were worth $446,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Great West Life Assurance Co. Can raised its position in shares of MiMedx Group by 5.0% in the first quarter. Great West Life Assurance Co. Can now owns 206,350 shares of the medical equipment provider’s stock worth $1,965,000 after buying an additional 9,768 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of MiMedx Group by 9.5% in the first quarter. Wells Fargo & Company MN now owns 471,131 shares of the medical equipment provider’s stock worth $4,491,000 after buying an additional 41,028 shares in the last quarter. State of Alaska Department of Revenue raised its position 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 in the last quarter. Louisiana State Employees Retirement System raised its position in shares of MiMedx Group by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the medical equipment provider’s stock worth $389,000 after buying an additional 300 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of MiMedx Group by 21.5% in the fourth quarter. Macquarie Group Ltd. now owns 2,926,297 shares of the medical equipment provider’s stock worth $25,927,000 after buying an additional 518,775 shares in the last quarter. Hedge funds and other institutional investors own 55.75% of the company’s stock.
Shares of MiMedx Group, Inc (MDXG) traded up 2.79% on Friday, reaching $14.75. 935,019 shares of the company’s stock traded hands. MiMedx Group, Inc has a 52 week low of $6.94 and a 52 week high of $16.20. The firm’s 50 day moving average is $14.98 and its 200 day moving average is $11.54. The firm has a market capitalization of $1.64 billion, a P/E ratio of 105.36 and a beta of 1.04.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.07. The company had revenue of $76.40 million for the quarter, compared to analyst estimates of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. Analysts expect that MiMedx Group, Inc will post $0.30 earnings per share for the current fiscal year.
MiMedx Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 26th that allows the company to repurchase $14.00 million in shares. This repurchase authorization allows the medical equipment provider to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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MDXG has been the subject of several research reports. First Analysis lowered shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a research report on Tuesday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective (up previously from $12.00) on shares of MiMedx Group in a research report on Thursday, April 13th. BidaskClub lowered shares of MiMedx Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Lake Street Capital increased their price objective on shares of MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $13.33.
In other MiMedx Group news, insider William Charles Taylor sold 80,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $14.52, for a total transaction of $1,161,600.00. Following the sale, the insider now directly owns 547,424 shares in the company, valued at $7,948,596.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.40% of the stock is owned by corporate insiders.
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.
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