Royce & Associates LP Has $4.39 Million Stock Holdings in MiMedx Group, Inc (NASDAQ:MDXG)

Key Points

• Royce & Associates LP reduced its stake in MiMedx Group by 34.3%, now owning 577,703 shares worth approximately $4.39 million.
• In the last quarter, significant activity included the acquisition of new stakes by First Light Asset Management and a notable 60.69% increase in stock ownership by CEO Joseph H. Capper.
• MiMedx Group's stock price decreased by 1.2% and is currently trading at $6.77, while the company reported a quarterly revenue of $88.21 million, surpassing estimates.

Royce & Associates LP decreased its position in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 34.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 577,703 shares of the company's stock after selling 301,924 shares during the period. Royce & Associates LP owned 0.39% of MiMedx Group worth $4,391,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its stake in MiMedx Group by 2.2% in the 4th quarter. Invesco Ltd. now owns 56,565 shares of the company's stock valued at $544,000 after purchasing an additional 1,226 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 2,056 shares during the period. Rhumbline Advisers grew its position in MiMedx Group by 1.4% in 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in MiMedx Group by 77.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock valued at $63,000 after acquiring an additional 2,837 shares during the last quarter. Finally, Isthmus Partners LLC lifted its stake in MiMedx Group by 1.1% in the 1st quarter. Isthmus Partners LLC now owns 310,262 shares of the company's stock worth $2,358,000 after purchasing an additional 3,455 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

MiMedx Group Price Performance

MDXG stock traded up $0.97 during trading on Thursday, hitting $7.49. The stock had a trading volume of 1,657,871 shares, compared to its average volume of 681,545. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.13 and a current ratio of 4.70. MiMedx Group, Inc has a 1-year low of $5.47 and a 1-year high of $10.14. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 27.74 and a beta of 1.76. The company's 50 day moving average price is $6.42 and its two-hundred day moving average price is $7.29.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. MiMedx Group had a return on equity of 22.70% and a net margin of 11.40%. The business had revenue of $88.21 million during the quarter, compared to analysts' expectations of $86.32 million. On average, sell-side analysts forecast that MiMedx Group, Inc will post 0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDXG. Wall Street Zen lowered shares of MiMedx Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. 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.

Insider Activity at MiMedx Group

In other MiMedx Group news, CEO Joseph H. Capper acquired 200,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $6.34 per share, for a total transaction of $1,268,000.00. Following the transaction, the chief executive officer owned 529,530 shares in the company, valued at $3,357,220.20. This trade represents a 60.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company's stock.

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.