MiMedx Group Sees Unusually Large Options Volume (MDXG)

MiMedx Group Inc (NASDAQ:MDXG) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 8,624 call options on the stock. This represents an increase of 990% compared to the typical volume of 791 call options.

Several research analysts recently issued reports on the company. Lake Street Capital set a $12.00 price objective on MiMedx Group and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub downgraded MiMedx Group from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of MiMedx Group in a report on Friday, December 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $18.00 price target on shares of MiMedx Group in a report on Friday, November 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.50.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB acquired a new position in MiMedx Group in the 4th quarter valued at $182,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in MiMedx Group in the 4th quarter valued at $231,000. Disciplined Growth Investors Inc. MN raised its holdings in MiMedx Group by 2.9% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 714,361 shares of the medical equipment provider’s stock valued at $9,008,000 after acquiring an additional 20,311 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in MiMedx Group in the 4th quarter valued at $608,000. Finally, Think Investments LP acquired a new position in MiMedx Group in the 4th quarter valued at $7,826,000. Institutional investors own 71.15% of the company’s stock.

MiMedx Group (NASDAQ MDXG) opened at $9.05 on Thursday. The firm has a market capitalization of $971.55, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08. MiMedx Group has a twelve month low of $7.70 and a twelve month high of $18.25.

MiMedx Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 13th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the medical equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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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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