Raymond James Financial Inc. Takes $887,000 Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Raymond James Financial Inc. bought a new position in shares of MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 92,207 shares of the company's stock, valued at approximately $887,000. Raymond James Financial Inc. owned 0.06% of MiMedx Group as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cannell Capital LLC grew its position in shares of MiMedx Group by 1.1% during the fourth quarter. Cannell Capital LLC now owns 3,639,545 shares of the company's stock worth $35,012,000 after buying an additional 40,235 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of MiMedx Group by 18.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,804,557 shares of the company's stock valued at $17,360,000 after purchasing an additional 280,327 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of MiMedx Group by 133.1% in the 4th quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company's stock valued at $6,668,000 after purchasing an additional 395,739 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of MiMedx Group by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 504,007 shares of the company's stock worth $4,849,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of MiMedx Group during the fourth quarter worth $4,020,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MDXG shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 price target on shares of MiMedx Group in a report on Thursday, February 27th. StockNews.com raised MiMedx Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 1st.

MiMedx Group Trading Up 4.7 %

Shares of MDXG stock opened at $6.62 on Tuesday. The company has a market capitalization of $977.79 million, a P/E ratio of 12.04 and a beta of 1.85. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $7.38 and its two-hundred day moving average is $8.11. MiMedx Group, Inc. has a twelve month low of $5.47 and a twelve month high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. The business had revenue of $88.21 million during the quarter, compared to the consensus estimate of $86.32 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. Equities analysts forecast that MiMedx Group, Inc. will post 0.3 EPS for the current year.

Insider Activity

In other news, CAO William Frank Iv Hulse sold 81,446 shares of MiMedx Group stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.80, for a total transaction of $635,278.80. Following the completion of the sale, the chief accounting officer now directly owns 494,774 shares in the company, valued at $3,859,237.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph H. Capper acquired 200,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were acquired at an average price of $6.34 per share, for a total transaction of $1,268,000.00. Following the acquisition, the chief executive officer now directly owns 529,530 shares of the company's stock, valued at approximately $3,357,220.20. The trade was a 60.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 144,018 shares of company stock worth $1,130,312 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

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.

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