Two Sigma Investments LP lowered its holdings in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 70.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,154 shares of the medical equipment provider’s stock after selling 200,723 shares during the period. Two Sigma Investments LP’s holdings in MiMedx Group were worth $1,086,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Sapphire Star Partners LP raised its stake in shares of MiMedx Group by 217.2% during the fourth quarter. Sapphire Star Partners LP now owns 40,623 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 27,817 shares during the last quarter. Granite Springs Asset Management LLC bought a new position in MiMedx Group during the fourth quarter worth $265,000. Quantitative Investment Management LLC bought a new position in MiMedx Group during the fourth quarter worth $665,000. Consonance Capital Management LP bought a new position in MiMedx Group during the fourth quarter worth $75,543,000. Finally, BlueCrest Capital Management Ltd bought a new position in MiMedx Group during the fourth quarter worth $126,000. 80.35% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MDXG opened at $6.46 on Friday. MiMedx Group, Inc. has a twelve month low of $6.05 and a twelve month high of $18.25. The firm has a market cap of $747.27, a P/E ratio of 53.83, a PEG ratio of 0.87 and a beta of 1.62.
MiMedx Group announced that its board has approved a share repurchase program on Wednesday, December 13th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the medical equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of MiMedx Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Needham & Company LLC downgraded shares of MiMedx Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Lake Street Capital set a $18.00 target price on shares of MiMedx Group and gave the stock a “buy” rating in a research note on Thursday, December 14th. Finally, Craig Hallum reissued a “buy” rating on shares of MiMedx Group in a research note on Tuesday, February 27th. Four analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price 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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