Alps Advisors Inc. Acquires Shares of 44,690 MiMedx Group, Inc (NASDAQ:MDXG)

Alps Advisors Inc. purchased a new stake in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 44,690 shares of the company's stock, valued at approximately $340,000.

Several other institutional investors have also added to or reduced their stakes in MDXG. Invesco Ltd. increased its holdings in shares of MiMedx Group by 2.2% during the fourth quarter. Invesco Ltd. now owns 56,565 shares of the company's stock valued at $544,000 after acquiring an additional 1,226 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of MiMedx Group by 3.9% during the first quarter. OneDigital Investment Advisors LLC now owns 55,157 shares of the company's stock worth $419,000 after buying an additional 2,056 shares during the period. Rhumbline Advisers grew its holdings in shares of MiMedx Group by 1.4% during the first quarter. Rhumbline Advisers now owns 177,156 shares of the company's stock valued at $1,346,000 after buying an additional 2,436 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of MiMedx Group by 77.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock valued at $63,000 after acquiring an additional 2,837 shares during the period. Finally, Virtus Fund Advisers LLC purchased a new position in MiMedx Group in the 4th quarter worth $35,000. Institutional investors and hedge funds own 79.15% of the company's stock.

MiMedx Group Price Performance

Shares of MiMedx Group stock traded down $0.30 during trading hours on Friday, reaching $6.42. The stock had a trading volume of 669,799 shares, compared to its average volume of 700,789. The stock's 50 day moving average is $6.49 and its 200 day moving average is $7.44. 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 twelve month low of $5.47 and a twelve month high of $10.14. The firm has a market capitalization of $948.23 million, a PE ratio of 23.78 and a beta of 1.76.

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

Wall Street Analyst Weigh In

MDXG has been the topic of several research analyst reports. Wall Street Zen upgraded MiMedx Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $11.00 target price on shares of MiMedx Group in a research note on Tuesday.

Insider Activity

In related news, CEO Joseph H. Capper bought 200,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was acquired at an average price of $6.34 per share, with a total value of $1,268,000.00. Following the completion of the purchase, the chief executive officer directly owned 529,530 shares of the company's stock, valued at approximately $3,357,220.20. This trade represents a 60.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

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.