563,662 Shares of MiMedx Group, Inc $MDXG Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 563,662 MiMedx shares during the second quarter, worth approximately $2.17 million and representing about 0.39% of the company. Institutional investors and hedge funds collectively own 79.15% of MDXG.
• MiMedx reported quarterly revenue of $64.36 million and an adjusted loss of $0.05 per share, matching analyst expectations on EPS while exceeding revenue estimates.
• Analyst sentiment remains generally positive: six analysts rate the stock a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and an average price target of $8.57, compared with a recent price of $4.66.

Bank of America Corp DE purchased a new position in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 563,662 shares of the company's stock, valued at approximately $2,170,000. Bank of America Corp DE owned about 0.39% of MiMedx Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of MDXG. Hsbc Holdings PLC bought a new position in MiMedx Group during the second quarter worth $186,000. Canada Pension Plan Investment Board bought a new stake in MiMedx Group during the second quarter valued at $166,000. Legal & General Group Plc bought a new stake in MiMedx Group during the second quarter valued at $45,000. The Manufacturers Life Insurance Company acquired a new stake in shares of MiMedx Group during the second quarter worth $133,000. Finally, Paradigm Capital Management Inc. NY bought a new position in shares of MiMedx Group in the 2nd quarter worth about $15,681,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Stock Performance

Shares of NASDAQ MDXG opened at $4.66 on Thursday. The company has a current ratio of 5.33, a quick ratio of 4.79 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $4.46 and a 200-day simple moving average of $4.04. The company has a market cap of $679.24 million, a PE ratio of 116.53 and a beta of 1.43. MiMedx Group, Inc has a 12-month low of $3.03 and a 12-month high of $7.97.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). The business had revenue of $64.36 million during the quarter, compared to analyst estimates of $63.46 million. MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%. On average, equities research analysts forecast that MiMedx Group, Inc will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MDXG. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of MiMedx Group in a research report on Tuesday, September 15th. Craig Hallum raised their target price on shares of MiMedx Group from $6.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Wall Street Zen upgraded MiMedx Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Raymond James Financial set a $8.00 target price on MiMedx Group in a report on Monday, August 17th. Finally, Seaport Research Partners cut MiMedx Group to a "neutral" rating in a research report on Monday, August 17th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $8.57.

MiMedx Group Company Profile

MiMedx Group, Inc is a biotechnology company that develops and markets regenerative biologic products derived from human placental tissue. Its products are designed to support the body's natural healing processes and are used by healthcare professionals in wound care, surgical applications, and musculoskeletal treatment.

The company's portfolio includes dehydrated human amnion/chorion membrane allografts, including EPIFIX, AMNIOFIX, and AMNIOCORD. These products are used in applications such as chronic wound management, tissue repair, and protection of soft tissue.

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