Ruggie Capital Group Maintains Position in MiMedx Group, Inc (NASDAQ:MDXG)
Ruggie Capital Group continued to hold its stake in MiMedx Group, Inc (NASDAQ:MDXG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,900 shares of the medical equipment provider’s stock at the end of the second quarter. Ruggie Capital Group’s holdings in MiMedx Group were worth $101,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its stake in MiMedx Group by 56.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 74,013 shares of the medical equipment provider’s stock worth $656,000 after buying an additional 26,713 shares during the last quarter. Teachers Advisors LLC increased its stake in MiMedx Group by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 209,027 shares of the medical equipment provider’s stock worth $1,852,000 after buying an additional 3,438 shares during the last quarter. OppenheimerFunds Inc. increased its stake in MiMedx Group by 45.2% in 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 during the last quarter. Wells Fargo & Company MN increased its stake in 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 during the last quarter. Finally, PEAK6 Investments L.P. purchased a new stake in MiMedx Group during the first quarter worth about $269,000. 53.75% of the stock is currently owned by institutional investors and hedge funds.
MiMedx Group, Inc (NASDAQ MDXG) opened at 15.54 on Thursday. MiMedx Group, Inc has a 52-week low of $6.94 and a 52-week high of $16.20. The company has a market cap of $1.67 billion, a P/E ratio of 81.79 and a beta of 1.03. The stock’s 50 day moving average price is $15.02 and its 200 day moving average price is $11.92.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. The business had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $74.22 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The company’s revenue was up 33.3% on a year-over-year basis. Analysts expect that MiMedx Group, Inc will post $0.31 earnings per share for the current year.
MiMedx Group announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 26th that permits the company to repurchase $14.00 million in shares. This repurchase authorization permits the medical equipment provider to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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A number of analysts have issued reports on MDXG shares. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of MiMedx Group in a research report on Wednesday, April 26th. First Analysis downgraded MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 target price on the stock. in a research report on Tuesday, May 23rd. Finally, Lake Street Capital boosted their target price on MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $13.33.
In other news, insider William Charles Taylor sold 26,571 shares of MiMedx Group stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $13.74, for a total value of $365,085.54. Following the completion of the sale, the insider now directly owns 533,612 shares of the company’s stock, valued at $7,331,828.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.40% of the company’s stock.
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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