Wells Fargo & Company MN Sells 110,595 Shares of MiMedx Group, Inc. (NASDAQ:MDXG)

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

Several other hedge funds have also bought and sold shares of MDXG. Norges Bank bought a new position in MiMedx Group in the 4th quarter worth about $4,020,000. JPMorgan Chase & Co. grew its holdings in shares of MiMedx Group by 133.1% during the fourth quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company's stock valued at $6,668,000 after buying an additional 395,739 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of MiMedx Group by 484.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 362,481 shares of the company's stock valued at $3,487,000 after acquiring an additional 300,433 shares in the last quarter. Barclays PLC raised its holdings in MiMedx Group by 163.9% in the 3rd quarter. Barclays PLC now owns 262,449 shares of the company's stock worth $1,550,000 after acquiring an additional 163,005 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in MiMedx Group by 213.8% in the 4th quarter. LPL Financial LLC now owns 143,845 shares of the company's stock worth $1,384,000 after acquiring an additional 98,004 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

MiMedx Group Stock Performance

Shares of NASDAQ MDXG traded up $0.36 during midday trading on Wednesday, hitting $6.97. 1,352,738 shares of the stock traded hands, compared to its average volume of 688,366. The firm has a market capitalization of $1.03 billion, a P/E ratio of 12.68 and a beta of 1.85. MiMedx Group, Inc. has a one year low of $5.47 and a one year high of $10.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. The firm has a 50-day moving average of $7.32 and a two-hundred day moving average of $8.09.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted 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. The company had revenue of $88.21 million for 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%. On average, equities analysts forecast that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com raised MiMedx Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 1st. 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.

Insider Activity at MiMedx Group

In related news, insider Kimberly Maersk-Moller sold 4,106 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total transaction of $32,396.34. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William Frank Iv Hulse sold 81,446 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $7.80, for a total transaction of $635,278.80. Following the sale, the chief accounting officer now owns 494,774 shares in the company, valued at approximately $3,859,237.20. The trade was a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,018 shares of company stock worth $1,130,312. 1.30% of the stock is owned by company insiders.

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.