Quantitative Investment Management LLC acquired a new stake in MiMedx Group, Inc. (NASDAQ:MDXG) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 52,800 shares of the medical equipment provider’s stock, valued at approximately $665,000.
Several other institutional investors and hedge funds have also modified their holdings of MDXG. Consonance Capital Management LP acquired a new position in MiMedx Group during the 4th quarter worth approximately $75,543,000. BlueCrest Capital Management Ltd acquired a new position in MiMedx Group during the 4th quarter worth approximately $126,000. Thrivent Financial For Lutherans boosted its position in MiMedx Group by 70.2% during the 4th quarter. Thrivent Financial For Lutherans now owns 631,664 shares of the medical equipment provider’s stock worth $7,965,000 after acquiring an additional 260,514 shares during the last quarter. Renaissance Technologies LLC boosted its position in MiMedx Group by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 550,500 shares of the medical equipment provider’s stock worth $6,942,000 after acquiring an additional 23,400 shares during the last quarter. Finally, Senzar Asset Management LLC acquired a new position in MiMedx Group during the 4th quarter worth approximately $9,159,000. Institutional investors and hedge funds own 80.35% of the company’s stock.
A number of equities analysts have weighed in on the company. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. Lake Street Capital downgraded MiMedx Group from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a research report on Friday, February 23rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Finally, Craig Hallum reaffirmed a “buy” rating on shares of MiMedx Group in a research report on Tuesday, February 27th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.75.
MiMedx Group, Inc. (NASDAQ:MDXG) opened at $6.92 on Friday. MiMedx Group, Inc. has a 12-month low of $6.05 and a 12-month high of $18.25. The firm has a market capitalization of $798.34, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 0.93 and a beta of 1.65.
MiMedx Group announced that its board has approved a stock repurchase plan on Wednesday, December 13th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the medical equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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MiMedx Group Profile
MiMedx Group, Inc, a biopharmaceutical company, develops and markets regenerative biologics utilizing human placental tissue allografts with patent-protected processes for various sectors of healthcare. It processes the human placental tissue utilizing its proprietary PURION Process to produce allografts.
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