State Board of Administration of Florida Retirement System Increases Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

State Board of Administration of Florida Retirement System increased its stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG – Get Rating) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,106 shares of the company’s stock after acquiring an additional 2,140 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in MiMedx Group were worth $48,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Insight 2811 Inc. purchased a new position in MiMedx Group during the fourth quarter worth approximately $50,000. WMS Partners LLC increased its stake in MiMedx Group by 61.8% during the fourth quarter. WMS Partners LLC now owns 98,065 shares of the company’s stock worth $273,000 after acquiring an additional 37,474 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in MiMedx Group by 62.3% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,845,300 shares of the company’s stock worth $5,130,000 after acquiring an additional 708,000 shares during the last quarter. D.A. Davidson & CO. increased its stake in MiMedx Group by 11.0% during the fourth quarter. D.A. Davidson & CO. now owns 121,400 shares of the company’s stock worth $337,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in MiMedx Group by 41.1% during the fourth quarter. Fisher Asset Management LLC now owns 603,998 shares of the company’s stock worth $1,679,000 after acquiring an additional 175,957 shares during the last quarter. Hedge funds and other institutional investors own 56.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MDXG. HC Wainwright raised their target price on MiMedx Group from $8.00 to $9.50 in a research note on Wednesday, May 3rd. StockNews.com cut MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 12th.

MiMedx Group Price Performance

Shares of NASDAQ MDXG opened at $5.89 on Wednesday. The company has a market capitalization of $680.88 million, a price-to-earnings ratio of -21.03 and a beta of 1.56. The business has a 50-day moving average of $4.18 and a two-hundred day moving average of $3.78. MiMedx Group, Inc. has a 1 year low of $2.43 and a 1 year high of $6.41.

MiMedx Group (NASDAQ:MDXG – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $71.68 million for the quarter, compared to analysts’ expectations of $63.48 million. As a group, equities research analysts expect that MiMedx Group, Inc. will post -0.08 earnings per share for the current year.

Insider Activity

In other MiMedx Group news, CFO Peter M. Carlson sold 5,976 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $5.93, for a total transaction of $35,437.68. Following the transaction, the chief financial officer now owns 656,435 shares in the company, valued at approximately $3,892,659.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Peter M. Carlson sold 5,976 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $5.93, for a total value of $35,437.68. Following the sale, the chief financial officer now owns 656,435 shares in the company, valued at approximately $3,892,659.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Benjamin Stein sold 5,869 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $5.93, for a total value of $34,803.17. Following the completion of the sale, the insider now owns 331,775 shares in the company, valued at approximately $1,967,425.75. The disclosure for this sale can be found here. In the last three months, insiders sold 168,077 shares of company stock valued at $793,947. Insiders own 19.90% of the company’s stock.

MiMedx Group Profile

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MiMedx Group, Inc is a therapeutic biologics company, which engages in the design, manufacture, and marketing of products, and tissue processing services. It serves the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare. Its biomaterial platform technologies include AmnioFix and EpiFix, a tissue allografts derived from amnion and chorion layers of human placental membrane, EpiCord and AmnioCord, a tissue allografts derived from umbilical cord tissue, and AmnioFill, a placental connective tissue matrix derived from the placental disc and other placental tissue.