Rowland & Co. Investment Counsel ADV lowered its position in shares of MiMedx Group Inc (NASDAQ:MDXG) by 9.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 184,923 shares of the medical equipment provider’s stock after selling 20,077 shares during the period. Rowland & Co. Investment Counsel ADV owned about 0.17% of MiMedx Group worth $2,337,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pinebridge Investments L.P. grew its position in shares of MiMedx Group by 2.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock valued at $201,000 after buying an additional 377 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of MiMedx Group by 7.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank grew its position in shares of MiMedx Group by 5.9% in the 2nd quarter. Amalgamated Bank now owns 14,292 shares of the medical equipment provider’s stock valued at $214,000 after buying an additional 792 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of MiMedx Group by 0.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 104,747 shares of the medical equipment provider’s stock valued at $1,569,000 after buying an additional 816 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of MiMedx Group by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 42,357 shares of the medical equipment provider’s stock valued at $634,000 after buying an additional 982 shares during the last quarter. Hedge funds and other institutional investors own 69.21% of the company’s stock.
MiMedx Group Inc (NASDAQ MDXG) traded down $0.38 during midday trading on Thursday, hitting $13.94. The company’s stock had a trading volume of 2,149,723 shares, compared to its average volume of 2,017,365. MiMedx Group Inc has a 1 year low of $7.64 and a 1 year high of $17.47. The company has a market cap of $1,550.00, a price-to-earnings ratio of 46.47, a PEG ratio of 1.73 and a beta of 0.88.
MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The company had revenue of $84.60 million for the quarter, compared to analyst estimates of $84.60 million. During the same quarter in the prior year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. equities analysts expect that MiMedx Group Inc will post 0.23 earnings per share for the current year.
MiMedx Group announced that its Board of Directors has approved a stock repurchase plan on Monday, October 9th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have commented on the company. BidaskClub upgraded MiMedx Group from a “sell” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $18.00 price target on shares of MiMedx Group in a research report on Friday, November 24th. Lake Street Capital set a $18.00 price target on MiMedx Group and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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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