Allianz Asset Management GmbH raised its stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 868.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 493,749 shares of the medical equipment provider’s stock after purchasing an additional 442,744 shares during the quarter. Allianz Asset Management GmbH owned 0.44% of MiMedx Group worth $6,226,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PVG Asset Management Corp acquired a new position in shares of MiMedx Group in the 3rd quarter worth approximately $127,000. First Republic Investment Management Inc. acquired a new position in shares of MiMedx Group in the 4th quarter worth approximately $153,000. Aurora Investment Counsel acquired a new position in shares of MiMedx Group in the 4th quarter worth approximately $156,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of MiMedx Group by 6,262.5% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,725 shares of the medical equipment provider’s stock worth $151,000 after acquiring an additional 12,525 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its holdings in shares of MiMedx Group by 81.1% in the 3rd quarter. ClariVest Asset Management LLC now owns 12,953 shares of the medical equipment provider’s stock worth $154,000 after acquiring an additional 5,800 shares in the last quarter. 80.35% of the stock is currently owned by institutional investors.
NASDAQ:MDXG traded down $0.27 during trading hours on Friday, hitting $6.46. 2,179,492 shares of the stock were exchanged, compared to its average volume of 2,713,623. MiMedx Group, Inc. has a twelve month low of $6.05 and a twelve month high of $18.25. The company has a market cap of $747.27, a price-to-earnings ratio of 53.83, a P/E/G ratio of 0.87 and a beta of 1.62.
MiMedx Group declared that its board has initiated a stock repurchase program on Wednesday, December 13th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Several research analysts have recently commented on MDXG shares. Zacks Investment Research downgraded MiMedx Group from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Lake Street Capital set a $18.00 target price on MiMedx Group and gave the stock a “buy” rating in a report on Thursday, December 14th. BidaskClub raised MiMedx Group from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Needham & Company LLC downgraded MiMedx Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, Craig Hallum reissued a “buy” rating on shares of MiMedx Group in a report on Tuesday, February 27th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.75.
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About MiMedx Group
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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