Legal & General Group Plc lifted its holdings in MiMedx Group Inc (NASDAQ:MDXG) by 18.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,560 shares of the medical equipment provider’s stock after acquiring an additional 33,784 shares during the period. Legal & General Group Plc owned 0.20% of MiMedx Group worth $2,580,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MDXG. Nordea Investment Management AB boosted its stake in MiMedx Group by 81.1% during the third quarter. Nordea Investment Management AB now owns 12,953 shares of the medical equipment provider’s stock valued at $154,000 after buying an additional 5,800 shares during the last quarter. American International Group Inc. boosted its stake in MiMedx Group by 6.0% during the third quarter. American International Group Inc. now owns 81,960 shares of the medical equipment provider’s stock valued at $974,000 after buying an additional 4,645 shares during the last quarter. Albion Financial Group UT bought a new position in MiMedx Group during the third quarter valued at approximately $332,000. D.A. Davidson & CO. bought a new position in MiMedx Group during the third quarter valued at approximately $166,000. Finally, Yorktown Management & Research Co Inc bought a new position in MiMedx Group during the third quarter valued at approximately $315,000. 69.21% of the stock is owned by hedge funds and other institutional investors.
Shares of MiMedx Group Inc (MDXG) opened at $13.94 on Friday. The stock has a market capitalization of $1,550.00, a price-to-earnings ratio of 46.47, a price-to-earnings-growth ratio of 1.73 and a beta of 0.88. MiMedx Group Inc has a 52-week low of $7.64 and a 52-week high of $17.47.
MiMedx Group announced that its Board of Directors has initiated a stock repurchase plan on Monday, October 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently commented on the company. BidaskClub raised MiMedx Group from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of MiMedx Group in a research report on Monday, October 30th. Lake Street Capital set a $18.00 price objective on MiMedx Group and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. MiMedx Group currently has an average rating of “Hold” and a consensus target price of $17.00.
MiMedx Group 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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