Norges Bank Makes New $4.02 Million Investment in MiMedx Group, Inc. (NASDAQ:MDXG)

Norges Bank acquired a new stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 417,900 shares of the company's stock, valued at approximately $4,020,000. Norges Bank owned 0.28% of MiMedx Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MDXG. IMG Wealth Management Inc. purchased a new stake in MiMedx Group during the fourth quarter worth approximately $28,000. SkyView Investment Advisors LLC increased its holdings in MiMedx Group by 30.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company's stock valued at $77,000 after purchasing an additional 3,000 shares in the last quarter. Principal Financial Group Inc. raised its position in MiMedx Group by 6.3% in the third quarter. Principal Financial Group Inc. now owns 55,495 shares of the company's stock valued at $328,000 after purchasing an additional 3,292 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of MiMedx Group by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 504,007 shares of the company's stock worth $4,849,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of MiMedx Group in the fourth quarter worth about $40,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other MiMedx Group news, insider Kimberly Maersk-Moller sold 4,106 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $32,396.34. Following the completion of the transaction, the insider now owns 310,836 shares in the company, valued at approximately $2,452,496.04. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William Frank Iv Hulse sold 54,596 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $430,762.44. Following the transaction, the chief accounting officer now owns 440,178 shares of the company's stock, valued at approximately $3,473,004.42. This represents a 11.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 144,018 shares of company stock valued at $1,130,312. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

MDXG has been the subject of several recent research reports. StockNews.com raised shares of MiMedx Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 price objective on shares of MiMedx Group in a report on Thursday, February 27th.

MiMedx Group Stock Down 1.0 %

Shares of MDXG stock traded down $0.07 during trading hours on Wednesday, hitting $6.73. 35,356 shares of the company were exchanged, compared to its average volume of 693,585. The business's 50-day simple moving average is $7.79 and its two-hundred day simple moving average is $8.00. MiMedx Group, Inc. has a one year low of $5.47 and a one year high of $10.14. The stock has a market capitalization of $991.77 million, a price-to-earnings ratio of 12.20 and a beta of 1.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share for the quarter, meeting analysts' consensus estimates of $0.07. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. The business had revenue of $92.91 million during the quarter, compared to the consensus estimate of $89.42 million. Sell-side analysts predict that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

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.