Think Investments LP bought a new position in MiMedx Group, Inc. (NASDAQ:MDXG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 620,616 shares of the medical equipment provider’s stock, valued at approximately $7,826,000. MiMedx Group makes up about 1.8% of Think Investments LP’s investment portfolio, making the stock its 12th largest holding. Think Investments LP owned 0.56% of MiMedx Group at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. PEAK6 Investments L.P. acquired a new position in MiMedx Group in the 4th quarter worth about $983,000. Dimensional Fund Advisors LP increased its holdings in 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 worth $581,000 after purchasing an additional 6,573 shares in the last quarter. Paradigm Capital Management Inc. NY increased its holdings in MiMedx Group by 2.4% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 419,100 shares of the medical equipment provider’s stock worth $5,285,000 after purchasing an additional 10,000 shares in the last quarter. BlackRock Inc. increased its holdings in MiMedx Group by 1.1% in the 4th quarter. BlackRock Inc. now owns 13,607,325 shares of the medical equipment provider’s stock worth $171,588,000 after purchasing an additional 147,214 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in MiMedx Group by 1.2% in the 4th quarter. Brown Advisory Inc. now owns 652,737 shares of the medical equipment provider’s stock worth $8,231,000 after purchasing an additional 7,478 shares in the last quarter. 80.35% of the stock is owned by institutional investors and hedge funds.
Shares of MDXG stock traded down $0.27 on Friday, hitting $6.46. The company had a trading volume of 2,179,492 shares, compared to its average volume of 2,713,623. The stock has a market cap of $747.27, a price-to-earnings ratio of 53.83, a PEG ratio of 0.87 and a beta of 1.62. MiMedx Group, Inc. has a twelve month low of $6.05 and a twelve month high of $18.25.
MiMedx Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 13th 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.
MDXG has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of MiMedx Group in a research note on Thursday, March 15th. BidaskClub raised MiMedx Group from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Craig Hallum reissued a “buy” rating on shares of MiMedx Group in a research note on Tuesday, February 27th. ValuEngine cut MiMedx Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Lake Street Capital set a $18.00 price target on MiMedx Group and gave the company a “buy” rating in a research note on Thursday, December 14th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.75.
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MiMedx Group Company 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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