MiMedx Group Inc (MDXG) Shares Bought by Argent Capital Management LLC

Argent Capital Management LLC increased its holdings in shares of MiMedx Group Inc (NASDAQ:MDXG) by 37.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,810 shares of the medical equipment provider’s stock after purchasing an additional 69,085 shares during the quarter. Argent Capital Management LLC owned 0.23% of MiMedx Group worth $3,027,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its holdings in MiMedx Group by 0.7% in the 2nd quarter. BlackRock Inc. now owns 12,187,736 shares of the medical equipment provider’s stock worth $182,451,000 after acquiring an additional 82,382 shares during the period. Vanguard Group Inc. boosted its holdings in MiMedx Group by 11.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,661,111 shares of the medical equipment provider’s stock worth $84,746,000 after acquiring an additional 566,114 shares during the period. State Street Corp boosted its holdings in MiMedx Group by 21.9% in the 2nd quarter. State Street Corp now owns 3,960,317 shares of the medical equipment provider’s stock worth $59,281,000 after acquiring an additional 710,515 shares during the period. Atlantic Trust Group LLC boosted its holdings in MiMedx Group by 1.5% in the 2nd quarter. Atlantic Trust Group LLC now owns 1,452,474 shares of the medical equipment provider’s stock worth $21,744,000 after acquiring an additional 21,429 shares during the period. Finally, Northern Trust Corp boosted its holdings in MiMedx Group by 2.2% in the 2nd quarter. Northern Trust Corp now owns 1,381,250 shares of the medical equipment provider’s stock worth $20,677,000 after acquiring an additional 29,265 shares during the period. 69.36% of the stock is owned by hedge funds and other institutional investors.

MiMedx Group Inc (NASDAQ MDXG) opened at $12.25 on Wednesday. MiMedx Group Inc has a one year low of $7.64 and a one year high of $17.47. The stock has a market capitalization of $1,293.56, a price-to-earnings ratio of 55.48, a P/E/G ratio of 2.96 and a beta of 0.87.

MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The firm had revenue of $84.60 million for the quarter, compared to analyst estimates of $84.60 million. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. sell-side analysts forecast that MiMedx Group Inc will post 0.23 EPS for the current fiscal year.

MiMedx Group announced that its Board of Directors has authorized a stock buyback program on Monday, October 9th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

MDXG has been the subject of several research analyst reports. BidaskClub cut MiMedx Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 target price on shares of MiMedx Group in a research note on Friday, November 24th. Finally, Needham & Company LLC increased their target price on MiMedx Group from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.00.

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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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Institutional Ownership by Quarter for MiMedx Group (NASDAQ:MDXG)

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