Federated Hermes Inc. Cuts Stock Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Federated Hermes Inc. decreased its holdings in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 807,373 shares of the company’s stock after selling 35,247 shares during the period. Federated Hermes Inc. owned approximately 0.69% of MiMedx Group worth $7,081,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MDXG. Cannell Capital LLC grew its holdings in MiMedx Group by 106.7% during the third quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock worth $16,576,000 after acquiring an additional 1,173,506 shares during the period. Vanguard Group Inc. grew its stake in shares of MiMedx Group by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock worth $46,927,000 after purchasing an additional 250,812 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MiMedx Group in the 4th quarter valued at about $1,594,000. Jupiter Asset Management Ltd. acquired a new stake in shares of MiMedx Group in the third quarter valued at about $1,264,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in MiMedx Group by 354.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 197,943 shares of the company’s stock worth $1,443,000 after buying an additional 154,376 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MiMedx Group

In related news, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total transaction of $162,028.95. Following the completion of the sale, the chief accounting officer now owns 479,959 shares in the company, valued at approximately $3,815,674.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the transaction, the chief accounting officer now directly owns 479,959 shares in the company, valued at approximately $3,815,674.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Ricci S. Whitlow sold 15,493 shares of MiMedx Group stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $8.07, for a total transaction of $125,028.51. Following the sale, the chief operating officer now owns 416,321 shares of the company’s stock, valued at $3,359,710.47. The disclosure for this sale can be found here. Insiders sold a total of 51,145 shares of company stock valued at $409,378 over the last three months. 19.90% of the stock is currently owned by insiders.

MiMedx Group Stock Down 1.2 %

Shares of NASDAQ MDXG opened at $6.43 on Thursday. The firm’s 50-day moving average is $7.54 and its two-hundred day moving average is $7.57. The company has a market capitalization of $944.95 million, a PE ratio of 20.09 and a beta of 1.32. MiMedx Group, Inc. has a 12-month low of $3.49 and a 12-month high of $9.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.57 and a quick ratio of 3.11.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). The company had revenue of $86.83 million for the quarter, compared to analyst estimates of $85.58 million. MiMedx Group had a return on equity of 41.12% and a net margin of 14.49%. Equities analysts anticipate that MiMedx Group, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Mizuho increased their target price on shares of MiMedx Group from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday, March 1st. Lake Street Capital began coverage on MiMedx Group in a research note on Thursday, March 7th. They issued a “buy” rating and a $12.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.25.

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.