MiMedx Group, Inc. (NASDAQ:MDXG) Shares Sold by Richmond Brothers Inc.

Richmond Brothers Inc. lowered its stake in MiMedx Group, Inc. (NASDAQ:MDXG) by 75.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,514 shares of the company’s stock after selling 592,221 shares during the period. MiMedx Group comprises 1.2% of Richmond Brothers Inc.’s investment portfolio, making the stock its 20th biggest position. Richmond Brothers Inc.’s holdings in MiMedx Group were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new stake in MiMedx Group in the 4th quarter valued at about $28,000. Van ECK Associates Corp acquired a new stake in shares of MiMedx Group during the 4th quarter worth about $40,000. Point72 DIFC Ltd raised its position in shares of MiMedx Group by 127.6% during the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock worth $45,000 after acquiring an additional 4,275 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of MiMedx Group during the 4th quarter worth about $88,000. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of MiMedx Group during the 4th quarter worth about $100,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of MiMedx Group in a research report on Thursday, February 27th.

Insider Buying and Selling

In other MiMedx Group news, insider Kimberly Maersk-Moller sold 4,106 shares of MiMedx Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the transaction, the insider now directly owns 310,836 shares in the company, valued at approximately $2,452,496.04. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William Frank Iv Hulse sold 54,596 shares of MiMedx Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $430,762.44. Following the completion of the sale, the chief accounting officer now owns 440,178 shares in the company, valued at approximately $3,473,004.42. This trade represents a 11.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 142,259 shares of company stock worth $1,116,170 in the last quarter. 1.30% of the stock is owned by insiders.

MiMedx Group Price Performance

Shares of NASDAQ MDXG opened at $7.92 on Wednesday. The stock’s 50-day simple moving average is $8.42 and its 200-day simple moving average is $7.84. The firm has a market capitalization of $1.17 billion, a PE ratio of 14.40 and a beta of 1.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. MiMedx Group, Inc. has a fifty-two week low of $5.47 and a fifty-two week high of $10.14.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $92.91 million for the quarter, compared to the consensus estimate of $89.42 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. As a group, equities research analysts forecast that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

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.