Allspring Global Investments Holdings LLC Sells 65,036 Shares of MiMedx Group, Inc (NASDAQ:MDXG)

Allspring Global Investments Holdings LLC cut its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 48.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,953 shares of the company's stock after selling 65,036 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in MiMedx Group were worth $524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDXG. HighMark Wealth Management LLC lifted its stake in shares of MiMedx Group by 1,333.3% in the 1st quarter. HighMark Wealth Management LLC now owns 43,000 shares of the company's stock valued at $327,000 after purchasing an additional 40,000 shares during the period. Palumbo Wealth Management LLC lifted its stake in shares of MiMedx Group by 33.6% in the 1st quarter. Palumbo Wealth Management LLC now owns 23,765 shares of the company's stock valued at $181,000 after purchasing an additional 5,980 shares during the period. Sowell Financial Services LLC acquired a new position in shares of MiMedx Group in the 1st quarter valued at about $115,000. Harbor Capital Advisors Inc. lifted its stake in shares of MiMedx Group by 4.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,043,676 shares of the company's stock valued at $7,932,000 after purchasing an additional 42,288 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of MiMedx Group by 1.4% in the 1st quarter. Rhumbline Advisers now owns 177,156 shares of the company's stock valued at $1,346,000 after purchasing an additional 2,436 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised MiMedx Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th.

MiMedx Group Stock Up 2.1%

MiMedx Group stock traded up $0.14 during midday trading on Monday, reaching $6.80. The stock had a trading volume of 1,122,807 shares, compared to its average volume of 688,873. MiMedx Group, Inc has a 12 month low of $5.47 and a 12 month high of $10.14. The company has a market capitalization of $1.00 billion, a P/E ratio of 25.19 and a beta of 1.76. The company has a fifty day moving average price of $6.52 and a two-hundred day moving average price of $7.47. The company has a current ratio of 4.70, a quick ratio of 4.13 and a debt-to-equity ratio of 0.09.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. The business had revenue of $88.21 million during the quarter, compared to analyst estimates of $86.32 million. MiMedx Group had a return on equity of 22.70% and a net margin of 11.40%. As a group, equities analysts expect that MiMedx Group, Inc will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other MiMedx Group news, CEO Joseph H. Capper bought 200,000 shares of MiMedx Group stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $6.34 per share, with a total value of $1,268,000.00. Following the completion of the acquisition, the chief executive officer directly owned 529,530 shares in the company, valued at approximately $3,357,220.20. The trade was a 60.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company's stock.

MiMedx Group Company 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.