Richmond Brothers Inc. Sells 48,077 Shares of MiMedx Group, Inc (NASDAQ:MDXG)

Richmond Brothers Inc. reduced its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 25.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,437 shares of the company’s stock after selling 48,077 shares during the quarter. MiMedx Group comprises about 0.7% of Richmond Brothers Inc.’s portfolio, making the stock its 22nd biggest position. Richmond Brothers Inc.’s holdings in MiMedx Group were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Isthmus Partners LLC grew its stake in shares of MiMedx Group by 1.1% during the first quarter. Isthmus Partners LLC now owns 310,262 shares of the company’s stock valued at $2,358,000 after purchasing an additional 3,455 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of MiMedx Group by 51.8% during the first quarter. New York State Common Retirement Fund now owns 87,781 shares of the company’s stock valued at $667,000 after purchasing an additional 29,941 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of MiMedx Group during the first quarter valued at approximately $340,000. OneDigital Investment Advisors LLC grew its stake in shares of MiMedx Group by 3.9% during the first quarter. OneDigital Investment Advisors LLC now owns 55,157 shares of the company’s stock valued at $419,000 after purchasing an additional 2,056 shares during the last quarter. Finally, HighMark Wealth Management LLC grew its stake in shares of MiMedx Group by 1,333.3% during the first quarter. HighMark Wealth Management LLC now owns 43,000 shares of the company’s stock valued at $327,000 after purchasing an additional 40,000 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Insider Activity at MiMedx Group

In related news, CEO Joseph H. Capper acquired 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were acquired 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 directly owned 529,530 shares in the company, valued at approximately $3,357,220.20. The trade was a 60.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

MiMedx Group Trading Down 6.9%

MDXG opened at $6.33 on Wednesday. The firm’s fifty day moving average is $6.51 and its two-hundred day moving average is $7.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.13 and a current ratio of 4.70. The firm has a market cap of $934.94 million, a PE ratio of 23.44 and a beta of 1.76. MiMedx Group, Inc has a twelve month low of $5.47 and a twelve month high of $10.14.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $88.21 million for the quarter, compared to analyst estimates of $86.32 million. MiMedx Group had a net margin of 11.40% and a return on equity of 22.70%. Equities research analysts anticipate that MiMedx Group, Inc will post 0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MDXG. Wall Street Zen raised shares of MiMedx Group from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of MiMedx Group in a research note on Tuesday.

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.