BlackRock Inc. Buys New Position in MiMedx Group, Inc $MDXG

Key Points

• BlackRock acquired 12.15 million MiMedx shares during the second quarter, valued at approximately $46.8 million and representing an 8.34% stake. Institutional investors collectively own 79.15% of MDXG.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy and one rates it Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $8.57.
• MiMedx reported quarterly revenue of $64.36 million, exceeding estimates of $63.46 million, while EPS of negative $0.05 matched expectations. Shares opened at $4.54, with a 12-month range of $3.03 to $7.97.

BlackRock Inc. bought a new stake in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,154,466 shares of the company's stock, valued at approximately $46,795,000. BlackRock Inc. owned 8.34% of MiMedx Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Nantahala Capital Management LLC acquired a new position in MiMedx Group in the third quarter valued at $10,237,000. Marshall Wace LLP grew its holdings in MiMedx Group by 864.9% during the 4th quarter. Marshall Wace LLP now owns 1,381,288 shares of the company's stock worth $9,351,000 after acquiring an additional 1,238,132 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of MiMedx Group in the 4th quarter worth about $7,134,000. Disciplined Growth Investors Inc. MN raised its position in shares of MiMedx Group by 283.0% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,383,451 shares of the company's stock worth $9,656,000 after acquiring an additional 1,022,202 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its stake in shares of MiMedx Group by 39.1% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 3,410,300 shares of the company's stock valued at $13,471,000 after purchasing an additional 959,100 shares during the period. 79.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MDXG. Raymond James Financial set a $8.00 target price on MiMedx Group in a report on Monday, August 17th. Craig Hallum raised their price objective on shares of MiMedx Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price objective on shares of MiMedx Group in a research note on Monday, August 17th. Seaport Research Partners downgraded shares of MiMedx Group to a "neutral" rating in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded shares of MiMedx Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.57.

MiMedx Group Price Performance

Shares of NASDAQ:MDXG opened at $4.54 on Tuesday. MiMedx Group, Inc has a twelve month low of $3.03 and a twelve month high of $7.97. The stock's 50 day moving average is $4.20 and its 200-day moving average is $4.08. The company has a quick ratio of 4.79, a current ratio of 5.33 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $661.75 million, a price-to-earnings ratio of 113.53 and a beta of 1.45.

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

MiMedx Group Company Profile

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company's core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx's product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx's principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source