MiMedx Group, Inc. (NASDAQ:MDXG) Holdings Lowered by Register Financial Advisors LLC

Register Financial Advisors LLC cut its stake in MiMedx Group, Inc. (NASDAQ:MDXG) by 10.6% in the 1st quarter, HoldingsChannel reports. The fund owned 33,800 shares of the company’s stock after selling 4,000 shares during the period. Register Financial Advisors LLC’s holdings in MiMedx Group were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in MiMedx Group by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock valued at $46,927,000 after purchasing an additional 250,812 shares in the last quarter. Cannell Capital LLC grew its holdings in MiMedx Group by 9.1% during the fourth quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock worth $21,758,000 after acquiring an additional 207,207 shares during the period. Charles Schwab Investment Management Inc. raised its position in MiMedx Group by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock worth $9,947,000 after acquiring an additional 57,704 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in MiMedx Group by 1,577.5% in the 4th quarter. Russell Investments Group Ltd. now owns 525,059 shares of the company’s stock valued at $4,605,000 after acquiring an additional 493,759 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of MiMedx Group by 69.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock valued at $3,928,000 after purchasing an additional 183,141 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MDXG. Lake Street Capital assumed coverage on shares of MiMedx Group in a report on Thursday, March 7th. They issued a “buy” rating and a $12.00 target price on the stock. StockNews.com raised MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 3rd. Mizuho raised their price objective on MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of MiMedx Group in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.25.

MiMedx Group Stock Up 2.5 %

MDXG stock opened at $6.93 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.29 and a quick ratio of 2.71. The firm has a market capitalization of $1.02 billion, a P/E ratio of 15.75 and a beta of 1.91. MiMedx Group, Inc. has a 52-week low of $5.57 and a 52-week high of $9.27. The company’s 50 day simple moving average is $7.15 and its 200-day simple moving average is $7.67.

MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $84.71 million for the quarter, compared to the consensus estimate of $79.36 million. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. As a group, equities research analysts anticipate that MiMedx Group, Inc. will post 0.34 EPS for the current year.

About MiMedx Group

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.