Algert Global LLC Purchases 48,030 Shares of MiMedx Group, Inc $MDXG

Key Points

• Algert Global LLC increased its holdings in MiMedx Group by 180.3% in the first quarter, acquiring a total of 74,667 shares worth $567,000.
• Institutional investors and hedge funds own 79.15% of MiMedx Group's stock, indicating significant interest from the investment community.
• MiMedx Group reported $0.10 earnings per share for the last quarter, exceeding analysts' expectations, and achieved a revenue of $98.61 million against estimates of $90.79 million.

Algert Global LLC lifted its position in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 180.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 74,667 shares of the company's stock after purchasing an additional 48,030 shares during the quarter. Algert Global LLC owned 0.05% of MiMedx Group worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MDXG. Invesco Ltd. grew its holdings in MiMedx Group by 2.2% during the 4th quarter. Invesco Ltd. now owns 56,565 shares of the company's stock worth $544,000 after acquiring an additional 1,226 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of MiMedx Group in the 4th quarter valued at approximately $887,000. Jump Financial LLC acquired a new stake in MiMedx Group during the 4th quarter worth approximately $154,000. Dimensional Fund Advisors LP raised its holdings in MiMedx Group by 15.2% during the 4th 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 during the period. Finally, MetLife Investment Management LLC raised its holdings in MiMedx Group by 10.0% during the 4th quarter. MetLife Investment Management LLC now owns 73,306 shares of the company's stock worth $705,000 after buying an additional 6,673 shares during the period. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

MDXG has been the subject of several research reports. 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. Cantor Fitzgerald lifted their price objective on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $12.00.

MiMedx Group Price Performance

NASDAQ MDXG traded down $0.08 during trading on Friday, hitting $7.10. 347,633 shares of the company's stock were exchanged, compared to its average volume of 625,441. 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 company has a market cap of $1.05 billion, a PE ratio of 33.81 and a beta of 1.79. MiMedx Group, Inc has a fifty-two week low of $5.47 and a fifty-two week high of $10.14. The stock's 50 day moving average price is $6.78 and its two-hundred day moving average price is $7.04.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The firm 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%. Research analysts expect that MiMedx Group, Inc will post 0.3 EPS for the current 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.