MiMedx Group, Inc. (NASDAQ:MDXG) Shares Sold by Richmond Brothers Inc.

Richmond Brothers Inc. cut its stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 917,343 shares of the company’s stock after selling 179,673 shares during the period. MiMedx Group accounts for 12.6% of Richmond Brothers Inc.’s holdings, making the stock its 2nd largest position. Richmond Brothers Inc. owned about 0.62% of MiMedx Group worth $6,357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Cannell Capital LLC increased its holdings in shares of MiMedx Group by 9.1% during the fourth quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock worth $21,758,000 after purchasing an additional 207,207 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of MiMedx Group by 47.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,292,822 shares of the company’s stock worth $8,958,000 after purchasing an additional 413,443 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of MiMedx Group by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock worth $9,947,000 after purchasing an additional 57,704 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of MiMedx Group by 5.0% during the first quarter. Russell Investments Group Ltd. now owns 551,546 shares of the company’s stock worth $4,247,000 after purchasing an additional 26,487 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of MiMedx Group by 8.6% during the first quarter. Hillsdale Investment Management Inc. now owns 486,500 shares of the company’s stock worth $3,746,000 after purchasing an additional 38,600 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDXG. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of MiMedx Group in a research note on Thursday, August 1st. StockNews.com raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Craig Hallum decreased their target price on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MiMedx Group currently has an average rating of “Buy” and an average target price of $12.00.

MiMedx Group Stock Performance

NASDAQ MDXG opened at $6.18 on Thursday. The stock has a market cap of $912.19 million, a PE ratio of 14.05 and a beta of 1.98. The firm’s fifty day moving average price is $6.71 and its two-hundred day moving average price is $7.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.22 and a current ratio of 3.85. MiMedx Group, Inc. has a fifty-two week low of $5.57 and a fifty-two week high of $9.27.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $87.21 million for the quarter, compared to analyst estimates of $88.44 million. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. On average, equities analysts expect that MiMedx Group, Inc. will post 0.26 EPS for the current fiscal year.

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.