MiMedx Group, Inc (NASDAQ:MDXG) Shares Acquired by HighMark Wealth Management LLC

HighMark Wealth Management LLC grew its stake in MiMedx Group, Inc (NASDAQ:MDXG) by 1,333.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,000 shares of the company’s stock after buying an additional 40,000 shares during the period. HighMark Wealth Management LLC’s holdings in MiMedx Group were worth $327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Light Asset Management LLC acquired a new stake in MiMedx Group during the 4th quarter worth about $32,168,000. Norges Bank purchased a new position in shares of MiMedx Group in the fourth quarter worth about $4,020,000. JPMorgan Chase & Co. lifted its holdings in shares of MiMedx Group by 133.1% during the fourth quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company’s stock worth $6,668,000 after purchasing an additional 395,739 shares during the period. Meros Investment Management LP purchased a new stake in MiMedx Group in the fourth quarter valued at approximately $3,801,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in MiMedx Group by 484.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 362,481 shares of the company’s stock worth $3,487,000 after buying an additional 300,433 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDXG has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of MiMedx Group in a research note on Thursday, February 27th. Wall Street Zen raised shares of MiMedx Group from a “hold” rating to a “buy” rating in a report on Friday, June 6th.

MiMedx Group Stock Down 0.3%

Shares of MDXG opened at $5.94 on Friday. The company has a market capitalization of $877.34 million, a price-to-earnings ratio of 22.00 and a beta of 1.82. MiMedx Group, Inc has a 52 week low of $5.47 and a 52 week high of $10.14. The stock’s 50-day moving average price is $6.57 and its 200-day moving average price is $7.73. The company has a quick ratio of 4.13, a current ratio of 4.70 and a debt-to-equity ratio of 0.09.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $88.21 million during the quarter, compared to the consensus estimate of $86.32 million. MiMedx Group had a return on equity of 22.70% and a net margin of 11.40%. On average, sell-side analysts predict that MiMedx Group, Inc will post 0.3 EPS for the current year.

Insider Activity at MiMedx Group

In other MiMedx Group news, CEO Joseph H. Capper purchased 200,000 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $6.34 per share, for a total transaction of $1,268,000.00. Following the purchase, the chief executive officer now directly owns 529,530 shares in the company, valued at approximately $3,357,220.20. This trade represents a 60.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

MiMedx Group 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.