Harbor Capital Advisors Inc. Buys 125,519 Shares of MiMedx Group, Inc $MDXG

Key Points

• Harbor Capital Advisors Inc. increased its stake in MiMedx Group by 12%, now owning 1,169,195 shares valued at approximately $7.14 million.
• Analysts have upgraded MiMedx Group's stock rating, with Cantor Fitzgerald raising the price target from $11 to $12, and Wall Street Zen upgrading it to a "strong-buy."
• In its latest financial report, MiMedx Group reported earnings of $0.10 per share, exceeding estimates and delivering a revenue of $98.61 million for the quarter.

Harbor Capital Advisors Inc. raised its position in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 12.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,169,195 shares of the company's stock after purchasing an additional 125,519 shares during the period. Harbor Capital Advisors Inc. owned 0.79% of MiMedx Group worth $7,144,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MDXG. OneDigital Investment Advisors LLC raised its position in MiMedx Group by 3.9% during the first quarter. OneDigital Investment Advisors LLC now owns 55,157 shares of the company's stock valued at $419,000 after acquiring an additional 2,056 shares in the last quarter. Rhumbline Advisers increased its stake in shares of MiMedx Group by 1.4% during the 1st quarter. Rhumbline Advisers now owns 177,156 shares of the company's stock worth $1,346,000 after purchasing an additional 2,436 shares during the last quarter. Isthmus Partners LLC raised its holdings in shares of MiMedx Group by 1.1% during the 1st quarter. Isthmus Partners LLC now owns 310,262 shares of the company's stock valued at $2,358,000 after purchasing an additional 3,455 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of MiMedx Group in the 4th quarter valued at $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MiMedx Group by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,518 shares of the company's stock worth $559,000 after purchasing an additional 4,049 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

MiMedx Group Stock Performance

Shares of MDXG stock traded down $0.13 during mid-day trading on Friday, reaching $7.02. The stock had a trading volume of 2,239,998 shares, compared to its average volume of 449,338. MiMedx Group, Inc has a one year low of $5.47 and a one year high of $10.14. The firm has a market cap of $1.04 billion, a PE ratio of 33.43 and a beta of 1.74. The firm's 50 day simple moving average is $7.00 and its 200 day simple moving average is $6.93. The company has a quick ratio of 3.90, a current ratio of 4.39 and a debt-to-equity ratio of 0.08.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. The firm had revenue of $98.61 million for 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%. On average, analysts forecast that MiMedx Group, Inc will post 0.3 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on MDXG shares. Cantor Fitzgerald upped their price target 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 MiMedx Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, MiMedx Group currently has an average rating of "Buy" and a consensus target price of $12.00.

MiMedx Group 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.