Schwab Charles Investment Management Inc. grew its position in MiMedx Group Inc (NASDAQ:MDXG) by 38.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 631,158 shares of the medical equipment provider’s stock after acquiring an additional 174,726 shares during the period. Schwab Charles Investment Management Inc. owned about 0.57% of MiMedx Group worth $7,499,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. First Trust Advisors LP raised its position in MiMedx Group by 53.3% during the second quarter. First Trust Advisors LP now owns 112,179 shares of the medical equipment provider’s stock worth $1,679,000 after acquiring an additional 38,992 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in shares of MiMedx Group in the second quarter valued at approximately $1,183,000. SG Americas Securities LLC acquired a new position in shares of MiMedx Group in the second quarter valued at approximately $504,000. Bank of New York Mellon Corp raised its position in shares of MiMedx Group by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,346,532 shares of the medical equipment provider’s stock valued at $20,158,000 after buying an additional 22,024 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of MiMedx Group by 10.9% in the second quarter. Legal & General Group Plc now owns 183,776 shares of the medical equipment provider’s stock valued at $2,750,000 after buying an additional 18,006 shares during the last quarter. 69.21% of the stock is currently owned by institutional investors and hedge funds.
MiMedx Group Inc (MDXG) opened at $13.12 on Friday. The firm has a market cap of $1,460.00, a price-to-earnings ratio of 43.73, a PEG ratio of 1.69 and a beta of 0.88. MiMedx Group Inc has a 52 week low of $7.64 and a 52 week high of $17.47.
MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. analysts forecast that MiMedx Group Inc will post 0.23 EPS for the current fiscal year.
MiMedx Group declared that its board has approved a share buyback plan on Monday, October 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have recently weighed in on MDXG. BidaskClub raised shares of MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of MiMedx Group in a research note on Monday, October 30th. Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the stock a “buy” rating in a research note on Thursday, December 14th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $17.00.
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MiMedx Group Profile
MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.
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