Alps Advisors Inc. Takes $340,000 Position in MiMedx Group, Inc (NASDAQ:MDXG)

Alps Advisors Inc. acquired a new stake in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,690 shares of the company's stock, valued at approximately $340,000.

Several other hedge funds also recently bought and sold shares of MDXG. Dimensional Fund Advisors LP grew its stake in MiMedx Group by 15.2% in the 4th 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. BNP Paribas Financial Markets purchased a new position in MiMedx Group in the 4th quarter worth approximately $450,000. Raymond James Financial Inc. purchased a new position in MiMedx Group in the 4th quarter worth approximately $887,000. Tower Research Capital LLC TRC grew its stake in MiMedx Group by 77.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock worth $63,000 after buying an additional 2,837 shares in the last quarter. Finally, Millennium Management LLC grew its stake in MiMedx Group by 10.1% in the 4th quarter. Millennium Management LLC now owns 634,968 shares of the company's stock worth $6,108,000 after buying an additional 58,052 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Insider Buying and Selling

In related news, CEO Joseph H. Capper acquired 200,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $6.34 per share, for a total transaction of $1,268,000.00. Following the acquisition, the chief executive officer owned 529,530 shares of the company's stock, valued at $3,357,220.20. This trade represents a 60.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MDXG shares. Wall Street Zen cut shares of MiMedx Group from a "buy" rating to a "hold" rating in a research note on Friday. Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 price target on shares of MiMedx Group in a research note on Tuesday, July 15th.

MiMedx Group Trading Down 4.5%

Shares of MDXG traded down $0.30 during mid-day trading on Friday, reaching $6.42. The company's stock had a trading volume of 669,822 shares, compared to its average volume of 702,843. The stock has a market cap of $948.25 million, a PE ratio of 23.78 and a beta of 1.76. 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, Inc has a 52 week low of $5.47 and a 52 week high of $10.14. The company's fifty day moving average price is $6.48 and its two-hundred day moving average price is $7.40.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. MiMedx Group had a net margin of 11.40% and a return on equity of 22.70%. The firm had revenue of $88.21 million during the quarter, compared to analyst estimates of $86.32 million. On average, analysts predict 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.