First Light Asset Management LLC Grows Position in MiMedx Group, Inc $MDXG

Key Points

• First Light Asset Management LLC increased its ownership in MiMedx Group, Inc by 3.3%, acquiring an additional 109,213 shares to bring its total holdings to approximately 3,453,074 shares.
• MiMedx Group has received a consensus rating of "Buy" from analysts, with a raised average price target of $12.00.
• The company reported a successful financial quarter, achieving $98.61 million in revenue and earnings per share of $0.10, surpassing analyst estimates.

First Light Asset Management LLC boosted its holdings in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,453,074 shares of the company's stock after purchasing an additional 109,213 shares during the period. MiMedx Group makes up 3.0% of First Light Asset Management LLC's investment portfolio, making the stock its 13th largest holding. First Light Asset Management LLC owned about 2.34% of MiMedx Group worth $26,243,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of 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 acquiring an additional 238,075 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of MiMedx Group in the fourth quarter valued at about $450,000. Raymond James Financial Inc. acquired a new stake in shares of MiMedx Group in the fourth quarter valued at about $887,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MiMedx Group by 18.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,713 shares of the company's stock valued at $302,000 after purchasing an additional 6,090 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of MiMedx Group by 77.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock valued at $63,000 after purchasing an additional 2,837 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Wall Street Analysts Forecast Growth

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

MiMedx Group Trading Up 0.7%

Shares of NASDAQ MDXG traded up $0.05 during midday trading on Friday, reaching $7.14. 366,086 shares of the stock were exchanged, compared to its average volume of 458,070. The company has a market capitalization of $1.06 billion, a P/E ratio of 34.00 and a beta of 1.74. MiMedx Group, Inc has a 52-week low of $5.47 and a 52-week high of $10.14. 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 50 day moving average price of $6.90 and a 200-day moving average price of $7.00.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued 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. The business had revenue of $98.61 million during the quarter, compared to the consensus estimate of $90.79 million. MiMedx Group had a net margin of 8.84% and a return on equity of 23.03%. Equities research analysts expect that MiMedx Group, Inc will post 0.3 earnings per share 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.