Phocas Financial Corp. Has $3.13 Million Holdings in MiMedx Group, Inc (NASDAQ:MDXG)

Key Points

• Phocas Financial Corp. acquired an additional 202,265 shares of MiMedx Group, increasing its stake by 96.5% to a total of 411,847 shares valued at approximately $3.13 million.
• Several institutional investors have made significant changes to their positions in MiMedx Group, leading to a total of 79.15% institutional ownership of the company’s stock.
• Analysts have raised MiMedx Group's price target from $11.00 to $12.00, and some analysts upgraded the stock rating from "hold" to "strong-buy."

Phocas Financial Corp. lifted its position in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 96.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,847 shares of the company's stock after acquiring an additional 202,265 shares during the period. Phocas Financial Corp. owned about 0.28% of MiMedx Group worth $3,130,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Virtus Fund Advisers LLC acquired a new position in shares of MiMedx Group during the 4th quarter valued at $35,000. Tower Research Capital LLC TRC boosted its position in MiMedx Group by 77.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock worth $63,000 after acquiring an additional 2,837 shares during the period. Legato Capital Management LLC acquired a new position in MiMedx Group in the 1st quarter valued at approximately $101,000. Ameriprise Financial Inc. acquired a new stake in MiMedx Group during the fourth quarter valued at $115,000. Finally, Sowell Financial Services LLC acquired a new position in MiMedx Group during the first quarter worth $115,000. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDXG. Wall Street Zen raised shares of MiMedx Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Cantor Fitzgerald boosted their price objective on shares of MiMedx Group from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, July 31st.

MiMedx Group Stock Performance

Shares of NASDAQ MDXG traded up $0.11 during midday trading on Thursday, hitting $7.35. 208,157 shares of the company's stock were exchanged, compared to its average volume of 696,722. MiMedx Group, Inc has a 12 month low of $5.47 and a 12 month high of $10.14. The firm has a market capitalization of $1.09 billion, a PE ratio of 34.88 and a beta of 1.79. The company's 50 day moving average price is $6.47 and its 200 day moving average price is $7.23. The company has a quick ratio of 3.90, a current ratio of 4.39 and a debt-to-equity ratio of 0.08.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced 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 company had revenue of $98.61 million for the quarter, compared to analysts' expectations of $90.79 million. MiMedx Group had a net margin of 8.84% and a return on equity of 23.03%. As a group, analysts predict that MiMedx Group, Inc will post 0.3 earnings per share for the current fiscal year.

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.