MiMedx Group, Inc $MDXG Shares Purchased by Algert Global LLC

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 increased its holdings in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 180.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 and other institutional investors have also recently modified their holdings of the business. Meros Investment Management LP increased its position in shares of MiMedx Group by 107.7% during the 1st quarter. Meros Investment Management LP now owns 820,605 shares of the company's stock worth $6,237,000 after purchasing an additional 425,531 shares during the last quarter. American Century Companies Inc. increased its position in shares of MiMedx Group by 36.0% during the 1st quarter. American Century Companies Inc. now owns 270,808 shares of the company's stock worth $2,058,000 after purchasing an additional 71,739 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of MiMedx Group by 262.5% during the 1st quarter. Russell Investments Group Ltd. now owns 26,114 shares of the company's stock worth $198,000 after purchasing an additional 18,911 shares during the last quarter. Nuveen LLC acquired a new stake in shares of MiMedx Group during the 1st quarter worth about $2,355,000. Finally, Invesco Ltd. increased its position in shares of MiMedx Group by 34.6% during the 1st quarter. Invesco Ltd. now owns 76,123 shares of the company's stock worth $579,000 after purchasing an additional 19,558 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

MiMedx Group Stock Performance

Shares of MiMedx Group stock opened at $7.31 on Friday. The business has a 50-day moving average of $6.65 and a 200 day moving average of $7.08. MiMedx Group, Inc has a 12 month low of $5.47 and a 12 month high of $10.14. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 34.81 and a beta of 1.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.39 and a quick ratio of 3.90.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. The company had revenue of $98.61 million for the quarter, compared to analyst estimates of $90.79 million. MiMedx Group had a return on equity of 23.03% and a net margin of 8.84%. As a group, sell-side analysts forecast that MiMedx Group, Inc will post 0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDXG. Wall Street Zen raised MiMedx Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Cantor Fitzgerald raised their target price on MiMedx Group from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, MiMedx Group has a consensus rating of "Buy" and an average target price of $12.00.

About MiMedx Group

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.

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