AlphaQuest LLC Acquires 42,707 Shares of MiMedx Group, Inc $MDXG

Key Points

• AlphaQuest LLC increased its stake in MiMedx Group by 464.7%, acquiring an additional 42,707 shares, bringing its total holding to 51,898 shares valued at approximately $394,000.
• MiMedx Group recently reported an earnings per share (EPS) of $0.10 for the quarter, surpassing analysts' expectations of $0.06, and achieved a revenue of $98.61 million compared to the forecast of $90.79 million.
• The stock has received a recent upgrade from a "hold" to a "strong-buy" rating, with an average price target raised to $12.00 by analysts, indicating positive investor sentiment.

AlphaQuest LLC lifted its position in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 464.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,898 shares of the company's stock after buying an additional 42,707 shares during the quarter. AlphaQuest LLC's holdings in MiMedx Group were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MDXG. Meros Investment Management LP increased its stake in shares of MiMedx Group by 107.7% in the first quarter. Meros Investment Management LP now owns 820,605 shares of the company's stock worth $6,237,000 after purchasing an additional 425,531 shares during the period. Nuveen LLC acquired a new stake in MiMedx Group in the 1st quarter worth $2,355,000. Dimensional Fund Advisors LP grew its position in MiMedx Group by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,802,364 shares of the company's stock worth $17,338,000 after buying an additional 238,075 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of MiMedx Group during the 4th quarter worth approximately $2,016,000. Finally, Deutsche Bank AG boosted its stake in MiMedx Group by 144.2% during the first quarter. Deutsche Bank AG now owns 321,296 shares of the company's stock worth $2,442,000 after buying an additional 189,750 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen raised MiMedx Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $12.00.

MiMedx Group Price Performance

Shares of MDXG traded up $0.09 during mid-day trading on Tuesday, hitting $7.19. 423,344 shares of the company traded hands, compared to its average volume of 528,930. The company has a current ratio of 4.39, a quick ratio of 3.90 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 34.24 and a beta of 1.74. The business has a 50-day moving average of $6.83 and a 200 day moving average of $7.02. MiMedx Group, Inc has a one year low of $5.47 and a one year high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The firm had revenue of $98.61 million for the quarter, compared to the consensus estimate of $90.79 million. MiMedx Group had a return on equity of 23.03% and a net margin of 8.84%. As a group, equities analysts expect that MiMedx Group, Inc will post 0.3 earnings per share 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.