Federated Hermes Inc. Has $278,000 Stock Holdings in MiMedx Group, Inc (NASDAQ:MDXG)

Key Points

• Federated Hermes Inc. reduced its stake in MiMedx Group, Inc by 55.4%, now holding 36,636 shares valued at $278,000 after selling 45,431 shares in the first quarter.
• Despite the decrease in holdings by some investors, others have increased their stakes in MiMedx, indicating ongoing interest in the company.
• MiMedx Group's stock has a current market cap of $1.04 billion and recently reported earnings that exceeded analysts' expectations, with $0.10 earnings per share against a forecast of $0.06.

Federated Hermes Inc. cut its position in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 55.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,636 shares of the company's stock after selling 45,431 shares during the quarter. Federated Hermes Inc.'s holdings in MiMedx Group were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. First Light Asset Management LLC bought a new position in shares of MiMedx Group during the fourth quarter valued at $32,168,000. JPMorgan Chase & Co. lifted its holdings in MiMedx Group by 133.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company's stock valued at $6,668,000 after purchasing an additional 395,739 shares during the last quarter. Meros Investment Management LP acquired a new position in MiMedx Group in the fourth quarter valued at about $3,801,000. Renaissance Technologies LLC increased its holdings in shares of MiMedx Group by 18.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,804,557 shares of the company's stock worth $17,360,000 after buying an additional 280,327 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on MDXG. Cantor Fitzgerald boosted their price objective on 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 upgraded shares of MiMedx Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd.

MiMedx Group Trading Down 1.9%

Shares of NASDAQ:MDXG traded down $0.14 during mid-day trading on Thursday, reaching $7.13. The stock had a trading volume of 112,416 shares, compared to its average volume of 695,669. The firm has a market cap of $1.06 billion, a PE ratio of 33.95 and a beta of 1.79. The firm has a 50 day simple moving average of $6.54 and a two-hundred day simple moving average of $7.16. The company has a current ratio of 4.39, a quick ratio of 3.90 and a debt-to-equity ratio of 0.08. MiMedx Group, Inc has a twelve month low of $5.47 and a twelve month high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. MiMedx Group had a return on equity of 23.03% and a net margin of 8.84%. The company had revenue of $98.61 million for the quarter, compared to analyst estimates of $90.79 million. On average, research analysts predict 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.