First Trust Advisors LP purchased a new position in shares of MiMedx Group Inc. (NASDAQ:MDXG) during the second quarter, Holdings Channel reports. The firm purchased 47,600 shares of the company’s stock, valued at approximately $380,000.
A number of other institutional investors have also recently modified their holdings of the stock. Springbok Capital Management LLC purchased a new position in shares of MiMedx Group during the first quarter worth about $109,000. Commonwealth Equity Services Inc raised its position in shares of MiMedx Group by 15.8% in the second quarter. Commonwealth Equity Services Inc now owns 14,623 shares of the company’s stock worth $117,000 after buying an additional 2,000 shares during the last quarter. Suntrust Banks Inc. raised its position in shares of MiMedx Group by 5.7% in the second quarter. Suntrust Banks Inc. now owns 16,523 shares of the company’s stock worth $131,000 after buying an additional 896 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of MiMedx Group during the second quarter worth about $144,000. Finally, KBC Group NV purchased a new position in shares of MiMedx Group during the second quarter worth about $180,000. 44.32% of the stock is owned by hedge funds and other institutional investors.
Shares of MiMedx Group Inc. (NASDAQ:MDXG) traded up 0.95% during mid-day trading on Friday, hitting $8.46. The stock had a trading volume of 57,279 shares. MiMedx Group Inc. has a 12-month low of $6.64 and a 12-month high of $9.90. The stock has a market capitalization of $930.96 million, a price-to-earnings ratio of 40.09 and a beta of 0.70. The stock’s 50-day moving average price is $8.38 and its 200-day moving average price is $7.92.
MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Tuesday, July 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. MiMedx Group had a return on equity of 22.16% and a net margin of 10.92%. The business had revenue of $57 million for the quarter, compared to analyst estimates of $56.49 million. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. On average, equities analysts anticipate that MiMedx Group Inc. will post $0.22 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Brean Capital reissued a “buy” rating on shares of MiMedx Group in a research note on Wednesday, June 29th. Zacks Investment Research raised MiMedx Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of MiMedx Group in a research note on Wednesday, August 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $10.89.
In other MiMedx Group news, insider William Charles Taylor sold 20,400 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $7.55, for a total transaction of $154,020.00. Following the transaction, the insider now owns 566,566 shares in the company, valued at approximately $4,277,573.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.30% of the company’s stock.
MiMedx Group Company Profile
MiMedx Group, Inc (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories.
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