Schwab Charles Investment Management Inc. increased its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 5.8% during the first quarter, Holdings Channel reports. The institutional investor owned 419,315 shares of the medical equipment provider’s stock after buying an additional 23,037 shares during the period. Schwab Charles Investment Management Inc.’s holdings in MiMedx Group were worth $3,997,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MDXG. Karp Capital Management Corp bought a new position in shares of MiMedx Group during the first quarter valued at $189,000. LS Investment Advisors LLC raised its stake in shares of MiMedx Group by 343.5% in the first quarter. LS Investment Advisors LLC now owns 18,611 shares of the medical equipment provider’s stock valued at $177,000 after buying an additional 14,415 shares during the last quarter. Comerica Bank raised its stake in shares of MiMedx Group by 3.4% in the first quarter. Comerica Bank now owns 111,067 shares of the medical equipment provider’s stock valued at $1,266,000 after buying an additional 3,625 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of MiMedx Group by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 1,324,508 shares of the medical equipment provider’s stock valued at $12,623,000 after buying an additional 28,335 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of MiMedx Group by 44.9% in the first quarter. First Trust Advisors LP now owns 73,187 shares of the medical equipment provider’s stock valued at $697,000 after buying an additional 22,668 shares during the last quarter. Institutional investors own 53.73% of the company’s stock.
MiMedx Group, Inc (NASDAQ MDXG) traded down 1.08% during trading on Wednesday, reaching $16.56. The company’s stock had a trading volume of 504,521 shares. The company has a market capitalization of $1.78 billion, a PE ratio of 87.16 and a beta of 1.03. The company has a 50 day moving average price of $15.01 and a 200-day moving average price of $12.16. MiMedx Group, Inc has a 52 week low of $6.94 and a 52 week high of $17.21.
MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $74.22 million. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. MiMedx Group’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. Equities research analysts anticipate that MiMedx Group, Inc will post $0.31 earnings per share for the current year.
MiMedx Group announced that its board has initiated a stock repurchase program on Wednesday, July 26th that allows the company to buyback $14.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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MDXG has been the topic of several research analyst reports. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of MiMedx Group in a report on Wednesday, April 26th. First Analysis lowered MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a report on Tuesday, May 23rd. Finally, Lake Street Capital lifted their price target on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. MiMedx Group presently has an average rating of “Hold” and an average price target of $13.33.
In other MiMedx Group news, insider William Charles Taylor sold 26,571 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $13.74, for a total transaction of $365,085.54. Following the sale, the insider now owns 533,612 shares in the company, valued at approximately $7,331,828.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.40% of the stock is currently owned by corporate insiders.
MiMedx Group Company 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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