Norges Bank Buys New Stake in MiMedx Group, Inc. (NASDAQ:MDXG)

Norges Bank purchased a new stake in MiMedx Group, Inc. (NASDAQ:MDXG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 417,900 shares of the company’s stock, valued at approximately $4,020,000.

A number of other institutional investors also recently bought and sold shares of MDXG. JPMorgan Chase & Co. boosted its position in shares of MiMedx Group by 133.1% in the 4th quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company’s stock valued at $6,668,000 after purchasing an additional 395,739 shares during the period. EntryPoint Capital LLC acquired a new position in MiMedx Group in the 4th quarter valued at $472,000. LPL Financial LLC raised its position in MiMedx Group by 213.8% during the 4th quarter. LPL Financial LLC now owns 143,845 shares of the company’s stock worth $1,384,000 after buying an additional 98,004 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in MiMedx Group in the fourth quarter valued at about $202,000. Finally, Intellus Advisors LLC acquired a new stake in shares of MiMedx Group in the 4th quarter valued at approximately $174,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MiMedx Group news, CAO William Frank Iv Hulse sold 81,446 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.80, for a total value of $635,278.80. Following the sale, the chief accounting officer now directly owns 494,774 shares of the company’s stock, valued at approximately $3,859,237.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of MiMedx Group stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $32,396.34. Following the completion of the sale, the insider now owns 310,836 shares of the company’s stock, valued at $2,452,496.04. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,018 shares of company stock worth $1,130,312. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MDXG has been the topic of a number of research analyst reports. StockNews.com raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Friday, April 4th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of MiMedx Group in a report on Thursday, February 27th.

MiMedx Group Stock Performance

MiMedx Group stock opened at $6.86 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. MiMedx Group, Inc. has a fifty-two week low of $5.47 and a fifty-two week high of $10.14. The stock has a fifty day moving average of $7.89 and a two-hundred day moving average of $7.98. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 12.47 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $92.91 million for the quarter, compared to analyst estimates of $89.42 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. On average, analysts anticipate that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

MiMedx Group Company Profile

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue’s inherent biological properties and regulatory proteins.