Richmond Brothers Inc. Lowers Stake in MiMedx Group, Inc (NASDAQ:MDXG)

Richmond Brothers Inc. decreased its position in shares of MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,437 shares of the company's stock after selling 48,077 shares during the quarter. MiMedx Group comprises 0.7% of Richmond Brothers Inc.'s holdings, making the stock its 22nd largest holding. Richmond Brothers Inc. owned 0.10% of MiMedx Group worth $1,083,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Invesco Ltd. raised its holdings in MiMedx Group by 2.2% during the fourth quarter. Invesco Ltd. now owns 56,565 shares of the company's stock worth $544,000 after buying an additional 1,226 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of MiMedx Group by 3.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 55,157 shares of the company's stock worth $419,000 after acquiring an additional 2,056 shares during the last quarter. Rhumbline Advisers lifted its position in MiMedx Group by 1.4% in the 1st quarter. Rhumbline Advisers now owns 177,156 shares of the company's stock valued at $1,346,000 after acquiring an additional 2,436 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake 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 valued at $63,000 after purchasing an additional 2,837 shares during the last quarter. Finally, IMG Wealth Management Inc. bought a new stake in MiMedx Group during the 4th quarter worth approximately $28,000. 79.15% of the stock is currently owned by institutional investors.

Insider Activity at MiMedx Group

In other MiMedx Group news, CEO Joseph H. Capper bought 200,000 shares of MiMedx Group stock in a transaction dated 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 completion of the purchase, the chief executive officer directly owned 529,530 shares of the company's stock, valued at approximately $3,357,220.20. This trade represents a 60.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MDXG shares. Wall Street Zen upgraded MiMedx Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 price objective on shares of MiMedx Group in a report on Tuesday.

MiMedx Group Stock Performance

Shares of NASDAQ MDXG traded up $0.01 during midday trading on Thursday, reaching $6.72. The company's stock had a trading volume of 730,885 shares, compared to its average volume of 698,863. The firm has a 50 day moving average price of $6.51 and a 200-day moving average price of $7.45. The stock has a market capitalization of $993.15 million, a P/E ratio of 25.02 and a beta of 1.76. MiMedx Group, Inc has a 12-month low of $5.47 and a 12-month high of $10.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.70 and a quick ratio of 4.13.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly 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 net margin of 11.40% and a return on equity of 22.70%. The company had revenue of $88.21 million during the quarter, compared to analyst estimates of $86.32 million. As a group, equities analysts predict that MiMedx Group, Inc will post 0.3 earnings per share for the current year.

MiMedx Group Company 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.