Parsons Capital Management Inc. RI Lowers Stock Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Parsons Capital Management Inc. RI lowered its holdings in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,146 shares of the company’s stock after selling 10,000 shares during the quarter. Parsons Capital Management Inc. RI owned approximately 0.15% of MiMedx Group worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MDXG. Harbor Capital Advisors Inc. purchased a new position in shares of MiMedx Group in the second quarter valued at approximately $1,781,000. Caxton Associates LP purchased a new position in shares of MiMedx Group in the first quarter valued at approximately $1,018,000. Price T Rowe Associates Inc. MD increased its holdings in shares of MiMedx Group by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,978 shares of the company’s stock valued at $254,000 after purchasing an additional 3,806 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of MiMedx Group in the first quarter valued at approximately $113,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of MiMedx Group by 8.6% in the first quarter. Hillsdale Investment Management Inc. now owns 486,500 shares of the company’s stock valued at $3,746,000 after purchasing an additional 38,600 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

MiMedx Group Stock Performance

Shares of MDXG stock opened at $6.58 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.71 and a current ratio of 3.85. MiMedx Group, Inc. has a one year low of $5.57 and a one year high of $9.27. The company’s 50-day simple moving average is $6.89 and its 200-day simple moving average is $7.28. The stock has a market capitalization of $971.23 million, a price-to-earnings ratio of 14.89 and a beta of 1.98.

Wall Street Analyst Weigh In

MDXG has been the subject of several recent research reports. Craig Hallum cut their price target on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of MiMedx Group in a research note on Thursday, August 1st. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of MiMedx Group in a research note on Wednesday, May 1st. Finally, StockNews.com cut MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, MiMedx Group currently has an average 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.