Point72 Asset Management L.P. acquired a new stake in MiMedx Group Inc (NASDAQ:MDXG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the medical equipment provider’s stock, valued at approximately $1,188,000. Point72 Asset Management L.P. owned about 0.09% of MiMedx Group at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH acquired a new stake in shares of MiMedx Group in the 3rd quarter valued at about $606,000. Convergence Investment Partners LLC raised its stake in shares of MiMedx Group by 48.2% in the 3rd quarter. Convergence Investment Partners LLC now owns 74,680 shares of the medical equipment provider’s stock valued at $887,000 after purchasing an additional 24,290 shares in the last quarter. OxFORD Asset Management LLP raised its stake in shares of MiMedx Group by 99.0% in the 3rd quarter. OxFORD Asset Management LLP now owns 121,576 shares of the medical equipment provider’s stock valued at $1,447,000 after purchasing an additional 60,477 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MiMedx Group by 15.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 48,930 shares of the medical equipment provider’s stock valued at $581,000 after purchasing an additional 6,573 shares in the last quarter. Finally, Investment Centers of America Inc. acquired a new stake in shares of MiMedx Group in the 3rd quarter valued at about $170,000. 69.21% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of MiMedx Group from a “sell” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of MiMedx Group in a research note on Friday, December 1st. Piper Jaffray Companies restated a “buy” rating and issued a $18.00 target price on shares of MiMedx Group in a research note on Friday, November 24th. Lake Street Capital set a $18.00 target price on shares of MiMedx Group and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. MiMedx Group presently has a consensus rating of “Hold” and a consensus target price of $17.00.
MiMedx Group Inc (MDXG) traded down $0.08 on Friday, reaching $13.86. 1,690,000 shares of the company traded hands, compared to its average volume of 1,790,000. The firm has a market capitalization of $1,540.00, a price-to-earnings ratio of 46.20, a price-to-earnings-growth ratio of 1.81 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 (NASDAQ:MDXG) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $84.60 million for the quarter, compared to analyst estimates of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. MiMedx Group’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. analysts anticipate that MiMedx Group Inc will post 0.23 EPS for the current fiscal year.
MiMedx Group announced that its board has authorized a stock repurchase program 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 buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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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