MiMedx Group, Inc (MDXG) Position Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 5.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 419,315 shares of the medical equipment provider’s stock after buying an additional 23,037 shares during the period. Schwab Charles Investment Management Inc. owned about 0.40% of MiMedx Group worth $3,997,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of MiMedx Group by 136,884.9% in the first quarter. BlackRock Inc. now owns 12,105,354 shares of the medical equipment provider’s stock worth $115,364,000 after buying an additional 12,096,517 shares during the period. Tiedemann Wealth Management LLC boosted its stake in shares of MiMedx Group by 3,943.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,796,342 shares of the medical equipment provider’s stock worth $17,409,000 after buying an additional 1,751,913 shares during the period. Wellington Management Group LLP boosted its stake in shares of MiMedx Group by 53.1% in the first quarter. Wellington Management Group LLP now owns 2,215,575 shares of the medical equipment provider’s stock worth $21,114,000 after buying an additional 768,857 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in shares of MiMedx Group by 20.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,656,000 shares of the medical equipment provider’s stock worth $15,782,000 after buying an additional 285,200 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of MiMedx Group during the first quarter worth approximately $709,000. Institutional investors and hedge funds own 53.73% of the company’s stock.
Shares of MiMedx Group, Inc (NASDAQ:MDXG) traded down 1.08% during trading on Wednesday, reaching $16.56. The company’s stock had a trading volume of 504,521 shares. The firm’s 50-day moving average is $15.01 and its 200-day moving average is $12.16. The stock has a market capitalization of $1.78 billion, a PE ratio of 87.16 and a beta of 1.03. MiMedx Group, Inc has a 12-month low of $6.94 and a 12-month high of $17.21.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $76.40 million during the quarter, compared to the consensus estimate of $74.22 million. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. The company’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Equities analysts expect that MiMedx Group, Inc will post $0.31 earnings per share for the current year.
MiMedx Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 26th that permits the company to repurchase $14.00 million in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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A number of analysts have recently commented on MDXG shares. BidaskClub upgraded shares of MiMedx Group from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of MiMedx Group in a report on Wednesday, April 26th. First Analysis cut shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 target price on the stock. in a report on Tuesday, May 23rd. Finally, Lake Street Capital boosted their target price on shares of MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.33.
In other MiMedx Group news, insider William Charles Taylor sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $14.52, for a total value of $1,161,600.00. Following the completion of the sale, the insider now owns 547,424 shares of the company’s stock, valued at $7,948,596.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 12.40% of the stock is currently owned by company 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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