Squarepoint Ops LLC Raises Holdings in MiMedx Group, Inc $MDXG

Key Points

• Squarepoint Ops increased its MiMedx Group stake by 73.7% in the second quarter, bringing its holdings to 571,930 shares worth approximately $2.2 million. Institutional investors and hedge funds collectively own 79.15% of the company.
• MiMedx reported quarterly revenue of $64.36 million, above the $63.46 million consensus estimate, while meeting expectations with an adjusted loss of $0.05 per share. The stock opened at $4.64, with a one-year range of $3.03 to $7.97.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $8.57, despite one downgrade to neutral and one sell rating.

Squarepoint Ops LLC grew its position in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) by 73.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 571,930 shares of the company's stock after acquiring an additional 242,714 shares during the period. Squarepoint Ops LLC owned about 0.39% of MiMedx Group worth $2,202,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MDXG. Sunbelt Securities Inc. purchased a new stake in MiMedx Group in the 1st quarter valued at about $42,000. E Fund Management Co. Ltd. purchased a new position in shares of MiMedx Group in the 2nd quarter valued at approximately $45,000. Syon Capital LLC acquired a new position in MiMedx Group during the second quarter worth $45,000. Legal & General Group Plc purchased a new position in MiMedx Group during the 2nd quarter valued at about $45,000. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of MiMedx Group by 0.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 2,019,718 shares of the company's stock valued at $7,978,000 after purchasing an additional 12,524 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

MiMedx Group Price Performance

MiMedx Group stock opened at $4.64 on Tuesday. The firm has a market cap of $676.33 million, a P/E ratio of 116.03 and a beta of 1.43. MiMedx Group, Inc has a one year low of $3.03 and a one year high of $7.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.33 and a quick ratio of 4.79. The stock's 50 day moving average is $4.34 and its 200 day moving average is $4.04.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.05). MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%.The business had revenue of $64.36 million for the quarter, compared to the consensus estimate of $63.46 million. As a group, research analysts expect that MiMedx Group, Inc will post -0.1 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James Financial set a $8.00 price target on shares of MiMedx Group in a research report on Monday, August 17th. Seaport Research Partners cut shares of MiMedx Group to a "neutral" rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of MiMedx Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Craig Hallum upped their price objective on shares of MiMedx Group from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Finally, Weiss Ratings raised shares of MiMedx Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 27th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.57.

About MiMedx Group

MiMedx Group, Inc is a biotechnology company that develops and markets regenerative biologic products derived from human placental tissue. Its products are designed to support the body's natural healing processes and are used by healthcare professionals in wound care, surgical applications, and musculoskeletal treatment.

The company's portfolio includes dehydrated human amnion/chorion membrane allografts, including EPIFIX, AMNIOFIX, and AMNIOCORD. These products are used in applications such as chronic wound management, tissue repair, and protection of soft tissue.

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