BlackRock Inc. increased its stake in MiMedx Group, Inc (NASDAQ:MDXG) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,187,736 shares of the medical equipment provider’s stock after acquiring an additional 82,382 shares during the period. BlackRock Inc. owned approximately 11.36% of MiMedx Group worth $182,451,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of MDXG. Victory Capital Management Inc. boosted its holdings 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 valued at $139,000 after acquiring an additional 1,952 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in MiMedx Group during the second quarter worth approximately $163,000. Paradigm Asset Management Co. LLC bought a new stake in MiMedx Group during the second quarter worth approximately $167,000. Karp Capital Management Corp bought a new stake in MiMedx Group during the first quarter worth approximately $189,000. Finally, OppenheimerFunds Inc. boosted its holdings in MiMedx Group by 45.2% during the first quarter. OppenheimerFunds Inc. now owns 22,860 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 7,112 shares in the last quarter. Institutional investors and hedge funds own 60.37% of the company’s stock.
MDXG has been the subject of a number of research reports. Needham & Company LLC raised their target price on shares of MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 5th. BidaskClub cut shares of MiMedx Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Lake Street Capital raised their target price on shares of MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Piper Jaffray Companies restated a “buy” rating and set a $18.00 target price on shares of MiMedx Group in a report on Sunday, August 20th. Finally, Zacks Investment Research cut shares of MiMedx Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.83.
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Shares of MiMedx Group, Inc (NASDAQ:MDXG) opened at 12.35 on Wednesday. The company’s 50-day moving average is $13.95 and its 200-day moving average is $13.83. MiMedx Group, Inc has a one year low of $7.64 and a one year high of $17.47. The company has a market capitalization of $1.32 billion, a PE ratio of 65.00 and a beta of 0.91.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. The company had revenue of $76.40 million during the quarter, compared to analyst estimates of $74.22 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. MiMedx Group’s revenue was up 33.3% on a year-over-year basis. Equities analysts predict that MiMedx Group, Inc will post $0.31 earnings per share for the current year.
MiMedx Group declared that its Board of Directors has approved a stock buyback program on Wednesday, July 26th that allows the company to buyback $14.00 million in shares. This buyback authorization allows 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 management believes its shares are undervalued.
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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