MiMedx Group Inc (NASDAQ:MDXG) Holdings Increased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in shares of MiMedx Group Inc (NASDAQ:MDXG) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,280 shares of the medical equipment provider’s stock after buying an additional 37,743 shares during the quarter. Wells Fargo & Company MN owned about 0.64% of MiMedx Group worth $8,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pinebridge Investments L.P. grew its holdings in MiMedx Group by 2.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock valued at $201,000 after buying an additional 377 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of MiMedx Group by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock valued at $129,000 after acquiring an additional 600 shares during the last quarter. Amalgamated Bank boosted its position in shares of MiMedx Group by 5.9% during the 2nd quarter. Amalgamated Bank now owns 14,292 shares of the medical equipment provider’s stock valued at $214,000 after acquiring an additional 792 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of MiMedx Group by 0.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 104,747 shares of the medical equipment provider’s stock valued at $1,569,000 after acquiring an additional 816 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of MiMedx Group by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 42,357 shares of the medical equipment provider’s stock valued at $634,000 after acquiring an additional 982 shares during the last quarter. 69.21% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on MDXG. Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 target price on shares of MiMedx Group in a research report on Friday, November 24th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of MiMedx Group in a research report on Tuesday, November 14th. BidaskClub upgraded MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Zacks Investment Research downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, Lake Street Capital set a $18.00 target price on MiMedx Group and gave the company a “buy” rating in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. MiMedx Group currently has an average rating of “Hold” and a consensus target price of $17.00.

Shares of MiMedx Group Inc (NASDAQ:MDXG) opened at $13.86 on Friday. The stock has a market capitalization of $1,540.00, a price-to-earnings ratio of 46.20, a P/E/G ratio of 1.73 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 issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. MiMedx Group’s revenue was up 31.4% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. equities analysts forecast that MiMedx Group Inc will post 0.23 EPS for the current fiscal year.

MiMedx Group announced that its Board of Directors has initiated a share repurchase program on Monday, October 9th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the medical equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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About MiMedx Group

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.

Institutional Ownership by Quarter for MiMedx Group (NASDAQ:MDXG)

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