MiMedx Group, Inc (NASDAQ:MDXG) Shares Acquired by Meros Investment Management LP

Key Points

• Meros Investment Management LP increased its stake in MiMedx Group, acquiring an additional 425,531 shares, which boosted its ownership by 107.7% during the first quarter.
• MiMedx Group recently reported $0.10 earnings per share (EPS), surpassing analysts' expectations of $0.06, with revenue of $98.61 million for the quarter.
• Analysts have raised their price targets for MiMedx Group, with Cantor Fitzgerald increasing its target from $11.00 to $12.00 and Wall Street Zen upgrading the stock to a "strong-buy" rating.

Meros Investment Management LP boosted its stake in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 107.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 820,605 shares of the company's stock after purchasing an additional 425,531 shares during the quarter. MiMedx Group comprises about 3.7% of Meros Investment Management LP's holdings, making the stock its 8th biggest position. Meros Investment Management LP owned 0.56% of MiMedx Group worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of MDXG. Paradigm Capital Management Inc. NY grew its holdings in shares of MiMedx Group by 0.5% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 4,686,231 shares of the company's stock valued at $45,082,000 after buying an additional 22,131 shares during the last quarter. First Light Asset Management LLC acquired a new position in shares of MiMedx Group during the fourth quarter valued at about $32,168,000. Dimensional Fund Advisors LP lifted its position in shares of MiMedx Group by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,802,364 shares of the company's stock valued at $17,338,000 after purchasing an additional 238,075 shares in the last quarter. Northern Trust Corp boosted its holdings in MiMedx Group by 11.4% during the fourth quarter. Northern Trust Corp now owns 1,199,970 shares of the company's stock worth $11,544,000 after purchasing an additional 123,205 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in MiMedx Group by 4.2% during the first quarter. Harbor Capital Advisors Inc. now owns 1,043,676 shares of the company's stock worth $7,932,000 after purchasing an additional 42,288 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Stock Performance

Shares of MDXG stock opened at $7.11 on Friday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 33.86 and a beta of 1.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.90 and a current ratio of 4.39. MiMedx Group, Inc has a 52 week low of $5.47 and a 52 week high of $10.14. The firm's 50-day simple moving average is $6.57 and its two-hundred day simple moving average is $7.14.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Cantor Fitzgerald boosted their price target on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of MiMedx Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd.

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.

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