Strs Ohio Purchases New Position in MiMedx Group, Inc $MDXG

Key Points

• Strs Ohio acquired a new stake in MiMedx Group, Inc by purchasing 78,300 shares valued at approximately $595,000, representing about 0.05% of the company.
• Brokerages have recently upgraded MiMedx Group's stock, with Wall Street Zen changing its rating to "strong-buy" and Cantor Fitzgerald raising the price target from $11.00 to $12.00.
• MiMedx Group reported a quarterly earnings per share (EPS) of $0.10, surpassing analysts' expectations, with total quarterly revenue of $98.61 million.

Strs Ohio bought a new stake in MiMedx Group, Inc (NASDAQ:MDXG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 78,300 shares of the company's stock, valued at approximately $595,000. Strs Ohio owned about 0.05% of MiMedx Group as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MDXG. Virtus Advisers LLC purchased a new position in MiMedx Group during the 1st quarter worth $40,000. Legato Capital Management LLC bought a new stake in shares of MiMedx Group in the 1st quarter valued at approximately $101,000. AQR Capital Management LLC grew its holdings in shares of MiMedx Group by 42.6% during the 1st quarter. AQR Capital Management LLC now owns 14,374 shares of the company's stock worth $109,000 after purchasing an additional 4,296 shares in the last quarter. Ameriprise Financial Inc. bought a new position in MiMedx Group in the 4th quarter valued at $115,000. Finally, Sowell Financial Services LLC acquired a new stake in MiMedx Group during the 1st quarter worth approximately $115,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDXG. Wall Street Zen upgraded MiMedx Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Cantor Fitzgerald raised their price target on MiMedx Group from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $12.00.

MiMedx Group Stock Down 1.8%

Shares of MiMedx Group stock opened at $7.02 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.39 and a quick ratio of 3.90. The business has a 50-day moving average of $7.00 and a two-hundred day moving average of $6.92. The company has a market capitalization of $1.04 billion, a P/E ratio of 33.43 and a beta of 1.74. MiMedx Group, Inc has a 1 year low of $5.47 and a 1 year high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. MiMedx Group had a net margin of 8.84% and a return on equity of 23.03%. The company had revenue of $98.61 million for the quarter, compared to analyst estimates of $90.79 million. As a group, equities analysts predict that MiMedx Group, Inc will post 0.3 EPS for the current 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.

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