Charles Schwab Investment Management Inc. Sells 243,914 Shares of MiMedx Group, Inc $MDXG

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in MiMedx Group, Inc. by 17.5%, selling 243,914 shares, leaving them with approximately 1.15 million shares valued at about $8.77 million.
• Despite this reduction, institutional investors control 79.15% of MiMedx Group, with several firms like Virtus Fund Advisers LLC and Legato Capital Management LLC increasing their stakes recently.
• Analysts are optimistic about MiMedx Group, with a consensus rating of "Buy" and a price target raised to $12.00, following the company’s better-than-expected quarterly earnings report.

Charles Schwab Investment Management Inc. lowered its holdings in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 17.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,153,597 shares of the company's stock after selling 243,914 shares during the period. Charles Schwab Investment Management Inc. owned about 0.78% of MiMedx Group worth $8,767,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Virtus Fund Advisers LLC bought a new position in shares of MiMedx Group during the fourth quarter valued at $35,000. Tower Research Capital LLC TRC raised its stake in MiMedx Group by 77.4% during the fourth 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 during the last quarter. Legato Capital Management LLC bought a new position in MiMedx Group during the first quarter worth $101,000. Ameriprise Financial Inc. bought a new position in MiMedx Group during the fourth quarter worth $115,000. Finally, Sowell Financial Services LLC bought a new position in MiMedx Group during the first quarter worth $115,000. Institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

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

MiMedx Group Trading Down 3.1%

NASDAQ:MDXG opened at $7.08 on Tuesday. 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 $1.05 billion, a price-to-earnings ratio of 33.72 and a beta of 1.79. The firm has a fifty day simple moving average of $6.67 and a two-hundred day simple moving average of $7.06. MiMedx Group, Inc has a 12 month low of $5.47 and a 12 month high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. The firm had revenue of $98.61 million during the quarter, compared to analysts' expectations of $90.79 million. MiMedx Group had a net margin of 8.84% and a return on equity of 23.03%. Analysts expect that MiMedx Group, Inc will post 0.3 EPS for the current fiscal year.

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.

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