MiMedx Group, Inc (NASDAQ:MDXG) Shares Sold by Richmond Brothers Inc.

Richmond Brothers Inc. decreased its position in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,437 shares of the company's stock after selling 48,077 shares during the quarter. MiMedx Group makes up about 0.7% of Richmond Brothers Inc.'s holdings, making the stock its 22nd largest position. Richmond Brothers Inc. owned 0.10% of MiMedx Group worth $1,083,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of MiMedx Group during the fourth quarter worth about $28,000. Virtus Fund Advisers LLC purchased a new position in shares of MiMedx Group during the fourth quarter worth about $35,000. Tower Research Capital LLC TRC grew its holdings in shares of MiMedx Group by 77.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock worth $63,000 after buying an additional 2,837 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of MiMedx Group during the fourth quarter worth about $88,000. Finally, Koss Olinger Consulting LLC purchased a new position in shares of MiMedx Group during the fourth quarter worth about $100,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Insiders Place Their Bets

In related news, CEO Joseph H. Capper purchased 200,000 shares of MiMedx Group stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost 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 approximately $3,357,220.20. The trade was a 60.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company's stock.

MiMedx Group Stock Performance

MDXG traded down $0.30 during trading on Friday, reaching $6.42. The company's stock had a trading volume of 669,822 shares, compared to its average volume of 702,843. MiMedx Group, Inc has a 52-week low of $5.47 and a 52-week high of $10.14. The company's fifty day moving average price is $6.48 and its 200-day moving average price is $7.41. The company has a market capitalization of $948.23 million, a price-to-earnings ratio of 22.93 and a beta of 1.76. 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 (NASDAQ:MDXG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. MiMedx Group had a return on equity of 22.70% and a net margin of 11.40%. The company had revenue of $88.21 million for the quarter, compared to analyst estimates of $86.32 million. On average, equities analysts forecast that MiMedx Group, Inc will post 0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered MiMedx Group from a "buy" rating to a "hold" rating in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price objective on shares of MiMedx Group in a report on Tuesday.

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.