Parsons Capital Management Inc. RI Has $866,000 Stock Holdings in MiMedx Group, Inc $MDXG

Parsons Capital Management Inc. RI cut its position in MiMedx Group, Inc (NASDAQ:MDXG) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 141,774 shares of the company’s stock after selling 4,875 shares during the period. Parsons Capital Management Inc. RI’s holdings in MiMedx Group were worth $866,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Virtus Advisers LLC acquired a new stake in MiMedx Group in the first quarter worth $40,000. Legato Capital Management LLC acquired a new stake in MiMedx Group in the first quarter worth $101,000. AQR Capital Management LLC raised its holdings in MiMedx Group by 42.6% in the first quarter. AQR Capital Management LLC now owns 14,374 shares of the company’s stock worth $109,000 after purchasing an additional 4,296 shares during the period. Sowell Financial Services LLC acquired a new stake in MiMedx Group in the first quarter worth $115,000. Finally, Ameriprise Financial Inc. acquired a new stake in MiMedx Group in the fourth quarter worth $115,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

MiMedx Group Trading Down 1.8%

Shares of NASDAQ:MDXG opened at $6.71 on Friday. MiMedx Group, Inc has a 12 month low of $5.47 and a 12 month 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 company’s fifty day simple moving average is $7.05 and its 200 day simple moving average is $6.87. The firm has a market cap of $992.81 million, a price-to-earnings ratio of 31.95 and a beta of 1.73.

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

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.