Rhumbline Advisers Increases Stock Holdings in MiMedx Group, Inc (NASDAQ:MDXG)

Rhumbline Advisers raised its position in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177,156 shares of the company’s stock after buying an additional 2,436 shares during the quarter. Rhumbline Advisers’ holdings in MiMedx Group were worth $1,346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in MiMedx Group during the fourth quarter valued at $28,000. Virtus Fund Advisers LLC purchased a new position in MiMedx Group during the fourth quarter valued at $35,000. Van ECK Associates Corp purchased a new position in MiMedx Group during the fourth quarter valued at $40,000. Tower Research Capital LLC TRC lifted its position in MiMedx Group by 77.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock valued at $63,000 after buying an additional 2,837 shares during the period. Finally, AlphaQuest LLC purchased a new position in MiMedx Group during the fourth quarter valued at $88,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Activity

In related news, CEO Joseph H. Capper purchased 200,000 shares of MiMedx Group stock in a transaction dated Friday, May 2nd. The stock was purchased at an average cost of $6.34 per share, for a total transaction of $1,268,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 529,530 shares of the company’s stock, valued at $3,357,220.20. The trade was a 60.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDXG. Wall Street Zen raised MiMedx Group from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 price objective on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group Price Performance

Shares of NASDAQ:MDXG opened at $5.90 on Thursday. MiMedx Group, Inc has a 1-year low of $5.47 and a 1-year high of $10.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.70 and a quick ratio of 4.13. The business has a fifty day moving average price of $6.67 and a 200-day moving average price of $7.88. The company has a market capitalization of $871.43 million, a PE ratio of 21.85 and a beta of 1.82.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. MiMedx Group had a return on equity of 22.70% and a net margin of 11.40%. The firm had revenue of $88.21 million during the quarter, compared to the consensus estimate of $86.32 million. As a group, equities analysts expect that MiMedx Group, Inc will post 0.3 EPS for the current fiscal year.

About MiMedx Group

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.