MiMedx Group, Inc $MDXG Shares Sold by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC trimmed its position in MiMedx Group, Inc (NASDAQ:MDXG) by 22.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,435 shares of the company’s stock after selling 5,330 shares during the period. Palumbo Wealth Management LLC’s holdings in MiMedx Group were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MDXG. Ameriprise Financial Inc. acquired a new position in shares of MiMedx Group during the fourth quarter worth about $115,000. ProShare Advisors LLC boosted its holdings in MiMedx Group by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 33,393 shares of the company’s stock valued at $321,000 after purchasing an additional 10,987 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of MiMedx Group by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 389,706 shares of the company’s stock worth $3,749,000 after buying an additional 72,432 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of MiMedx Group by 1.4% in the first quarter. Rhumbline Advisers now owns 177,156 shares of the company’s stock valued at $1,346,000 after buying an additional 2,436 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in MiMedx Group by 4.2% during the first quarter. Harbor Capital Advisors Inc. now owns 1,043,676 shares of the company’s stock worth $7,932,000 after acquiring an additional 42,288 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Trading Down 1.6%

NASDAQ:MDXG opened at $6.98 on Friday. MiMedx Group, Inc has a 52-week low of $5.47 and a 52-week high of $10.14. The company has a quick ratio of 3.90, a current ratio of 4.39 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $7.04 and a 200-day simple moving average of $6.91. The company has a market capitalization of $1.03 billion, a PE ratio of 33.24 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $98.61 million for the quarter, compared to analysts’ expectations of $90.79 million. MiMedx Group had a net margin of 8.84% and a return on equity of 23.03%. On average, equities research analysts expect that MiMedx Group, Inc will post 0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MDXG shares. Cantor Fitzgerald boosted their target price on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of MiMedx Group from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, MiMedx Group currently has a consensus rating of “Buy” and a consensus target price of $12.00.

MiMedx Group Company 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.