Pinebridge Investments L.P. Raises Holdings in MiMedx Group, Inc (MDXG)
Pinebridge Investments L.P. grew its position in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,438 shares of the medical equipment provider’s stock after purchasing an additional 377 shares during the quarter. Pinebridge Investments L.P.’s holdings in MiMedx Group were worth $201,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MDXG. Wells Fargo & Company MN grew its holdings in shares of MiMedx Group by 9.5% during the first quarter. Wells Fargo & Company MN now owns 471,131 shares of the medical equipment provider’s stock worth $4,491,000 after purchasing an additional 41,028 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of MiMedx Group by 44.9% during the first quarter. First Trust Advisors LP now owns 73,187 shares of the medical equipment provider’s stock worth $697,000 after purchasing an additional 22,668 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of MiMedx Group by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 1,324,508 shares of the medical equipment provider’s stock worth $12,623,000 after purchasing an additional 28,335 shares during the last quarter. Comerica Bank grew its holdings in shares of MiMedx Group by 3.4% during the first quarter. Comerica Bank now owns 111,067 shares of the medical equipment provider’s stock worth $1,266,000 after purchasing an additional 3,625 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of MiMedx Group during the first quarter worth about $189,000. 60.35% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on MDXG. Needham & Company LLC raised their price objective on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 5th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a report on Sunday, August 20th. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Lake Street Capital raised their price objective on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. MiMedx Group presently has an average rating of “Hold” and a consensus price target of $14.83.
Shares of MiMedx Group, Inc (NASDAQ MDXG) opened at 12.53 on Friday. The stock’s 50 day moving average is $14.33 and its 200 day moving average is $13.69. The firm has a market cap of $1.34 billion, a P/E ratio of 65.95 and a beta of 0.91. MiMedx Group, Inc has a 52 week low of $7.64 and a 52 week high of $17.47.
MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The company had revenue of $76.40 million during the quarter, compared to the consensus estimate of $74.22 million. During the same quarter in the previous year, the firm earned $0.05 EPS. The company’s revenue was up 33.3% on a year-over-year basis. On average, equities research analysts predict that MiMedx Group, Inc will post $0.31 earnings per share for the current fiscal year.
MiMedx Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 26th that allows the company to buyback $14.00 million in shares. This buyback authorization allows the medical equipment provider to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
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.
Receive News & Stock Ratings for MiMedx Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiMedx Group Inc and related stocks with our FREE daily email newsletter.