Harbor Capital Advisors Inc. Raises Holdings in 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. increased its position in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 12.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,169,195 shares of the company's stock after buying an additional 125,519 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.79% of MiMedx Group worth $7,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MDXG. Ameriprise Financial Inc. purchased a new position in shares of MiMedx Group in the 4th quarter worth $115,000. BNP Paribas Financial Markets acquired a new stake in MiMedx Group in the 4th quarter valued at $450,000. D. E. Shaw & Co. Inc. increased its holdings in MiMedx Group by 87.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 242,942 shares of the company's stock valued at $2,337,000 after purchasing an additional 113,191 shares in the last quarter. Deutsche Bank AG increased its holdings in MiMedx Group by 37.3% in the 4th quarter. Deutsche Bank AG now owns 131,546 shares of the company's stock valued at $1,265,000 after purchasing an additional 35,733 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in MiMedx Group by 10.1% in the 4th quarter. Millennium Management LLC now owns 634,968 shares of the company's stock valued at $6,108,000 after purchasing an additional 58,052 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Cantor Fitzgerald increased their price target on MiMedx Group from $11.00 to $12.00 and gave the company an "overweight" rating in a report 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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $12.00.

MiMedx Group Stock Up 0.4%

Shares of MiMedx Group stock opened at $6.97 on Tuesday. The business has a 50-day moving average of $6.99 and a 200-day moving average of $6.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.39 and a quick ratio of 3.90. The company has a market capitalization of $1.03 billion, a PE ratio of 33.19 and a beta of 1.74. MiMedx Group, Inc has a 1-year low of $5.47 and a 1-year high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The company had revenue of $98.61 million during the quarter, compared to the consensus estimate of $90.79 million. MiMedx Group had a return on equity of 23.03% and a net margin of 8.84%. As a group, equities analysts forecast 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.

Want to see what other hedge funds are holding MDXG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MiMedx Group, Inc (NASDAQ:MDXG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.