Wells Fargo & Company MN Reduces Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Wells Fargo & Company MN cut its stake in MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) by 61.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,047 shares of the company's stock after selling 110,595 shares during the quarter. Wells Fargo & Company MN's holdings in MiMedx Group were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its position in MiMedx Group by 163.9% in the third quarter. Barclays PLC now owns 262,449 shares of the company's stock worth $1,550,000 after purchasing an additional 163,005 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of MiMedx Group by 30.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company's stock worth $77,000 after purchasing an additional 3,000 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of MiMedx Group by 6.3% in the third quarter. Principal Financial Group Inc. now owns 55,495 shares of the company's stock worth $328,000 after buying an additional 3,292 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in MiMedx Group by 265.4% during the third quarter. JPMorgan Chase & Co. now owns 297,367 shares of the company's stock valued at $1,757,000 after buying an additional 215,995 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new position in MiMedx Group in the fourth quarter worth approximately $160,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MiMedx Group

In other news, CAO William Frank Iv Hulse sold 81,446 shares of MiMedx Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.80, for a total value of $635,278.80. Following the sale, the chief accounting officer now directly owns 494,774 shares of the company's stock, valued at approximately $3,859,237.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of MiMedx Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the completion of the sale, the insider now directly owns 310,836 shares in the company, valued at approximately $2,452,496.04. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,018 shares of company stock valued at $1,130,312 over the last 90 days. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

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

MiMedx Group Price Performance

NASDAQ:MDXG remained flat at $6.32 during trading hours on Friday. 900,613 shares of the company's stock traded hands, compared to its average volume of 677,756. The stock has a market capitalization of $931.35 million, a P/E ratio of 11.49 and a beta of 1.74. MiMedx Group, Inc. has a twelve month low of $5.47 and a twelve month high of $10.14. The firm has a 50-day moving average of $7.40 and a 200 day moving average of $8.09. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last released its earnings results 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 net margin of 23.86% and a return on equity of 26.21%. The company had revenue of $88.21 million for the quarter, compared to analysts' expectations of $86.32 million. Equities analysts forecast that MiMedx Group, Inc. will post 0.3 earnings per share for the current fiscal 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.