MiMedx Group Inc (MDXG) Shares Bought by Atlantic Trust Group LLC
Atlantic Trust Group LLC raised its stake in shares of MiMedx Group Inc (NASDAQ:MDXG) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,490,411 shares of the medical equipment provider’s stock after buying an additional 37,937 shares during the period. Atlantic Trust Group LLC owned approximately 1.34% of MiMedx Group worth $17,706,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its position in shares of MiMedx Group by 471.3% during the 3rd quarter. Prudential Financial Inc. now owns 1,071,229 shares of the medical equipment provider’s stock valued at $12,726,000 after purchasing an additional 883,709 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of MiMedx Group by 728.9% during the 2nd quarter. Gotham Asset Management LLC now owns 830,253 shares of the medical equipment provider’s stock valued at $12,429,000 after purchasing an additional 730,092 shares in the last quarter. State Street Corp boosted its position in shares of MiMedx Group by 21.9% during the 2nd quarter. State Street Corp now owns 3,960,317 shares of the medical equipment provider’s stock valued at $59,281,000 after purchasing an additional 710,515 shares in the last quarter. Kestrel Investment Management Corp bought a new position in shares of MiMedx Group during the 2nd quarter valued at about $10,210,000. Finally, Vanguard Group Inc. boosted its position in shares of MiMedx Group by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,661,111 shares of the medical equipment provider’s stock valued at $84,746,000 after purchasing an additional 566,114 shares in the last quarter. 69.21% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on MDXG. Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the company a “buy” rating in a research report on Thursday, December 14th. Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Friday, December 8th. Piper Jaffray Companies restated a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research report on Friday, December 1st. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of MiMedx Group in a research report on Friday, December 1st. Finally, BidaskClub cut shares of MiMedx Group from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.00.
MiMedx Group Inc (MDXG) opened at $13.06 on Friday. MiMedx Group Inc has a fifty-two week low of $7.64 and a fifty-two week high of $17.47. The company has a market cap of $1,480.00, a PE ratio of 43.53, a price-to-earnings-growth ratio of 3.26 and a beta of 0.87.
MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The company had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $84.60 million. During the same period last year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. equities research analysts expect that MiMedx Group Inc will post 0.23 EPS for the current fiscal year.
MiMedx Group declared that its Board of Directors has approved a stock repurchase program on Monday, October 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the medical equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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MiMedx Group Profile
MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.
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