Massachusetts Financial Services Co. MA cut its stake in MiMedx Group, Inc. (NASDAQ:MDXG – Free Report) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,127 shares of the company’s stock after selling 7,012 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.16% of MiMedx Group worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank increased its stake in shares of MiMedx Group by 8.2% in the 1st quarter. Swiss National Bank now owns 172,400 shares of the company’s stock worth $812,000 after acquiring an additional 13,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in MiMedx Group by 16.7% in the 1st quarter. JPMorgan Chase & Co. now owns 78,218 shares of the company’s stock valued at $368,000 after purchasing an additional 11,208 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of MiMedx Group in the 1st quarter valued at approximately $151,000. MetLife Investment Management LLC increased its holdings in shares of MiMedx Group by 56.2% during the 1st quarter. MetLife Investment Management LLC now owns 62,811 shares of the company’s stock worth $296,000 after buying an additional 22,593 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of MiMedx Group by 5.5% during the 1st quarter. Rhumbline Advisers now owns 120,353 shares of the company’s stock valued at $567,000 after buying an additional 6,250 shares during the period. Institutional investors and hedge funds own 43.85% of the company’s stock.
Analysts Set New Price Targets
MDXG has been the subject of several analyst reports. Mizuho lowered their price objective on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Craig Hallum initiated coverage on MiMedx Group in a report on Friday, October 27th. They set a “buy” rating and a $12.00 price target for the company. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $11.67.
MiMedx Group Stock Up 4.3 %
MiMedx Group stock opened at $8.30 on Tuesday. The company has a market capitalization of $965.95 million, a PE ratio of -415.00 and a beta of 1.36. The company has a debt-to-equity ratio of 36.82, a quick ratio of 3.10 and a current ratio of 3.54. MiMedx Group, Inc. has a fifty-two week low of $3.08 and a fifty-two week high of $9.27. The firm has a 50 day moving average price of $8.25 and a 200 day moving average price of $7.58.
Insider Buying and Selling
In other news, CFO Rice Doug bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was bought at an average cost of $7.16 per share, with a total value of $35,800.00. Following the transaction, the chief financial officer now directly owns 102,200 shares in the company, valued at approximately $731,752. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.90% of the stock is owned by corporate insiders.
MiMedx Group Profile
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.
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