Millennium Management LLC Grows Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Millennium Management LLC boosted its holdings in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 339.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 889,446 shares of the company’s stock after acquiring an additional 687,267 shares during the period. Millennium Management LLC owned 0.60% of MiMedx Group worth $6,164,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MDXG. Headlands Technologies LLC bought a new stake in MiMedx Group in the first quarter worth $27,000. Isthmus Partners LLC boosted its holdings in shares of MiMedx Group by 30.4% during the 2nd quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock valued at $27,000 after acquiring an additional 91,714 shares during the last quarter. Quest Partners LLC purchased a new position in shares of MiMedx Group during the second quarter valued at approximately $81,000. Entropy Technologies LP bought a new position in MiMedx Group during the first quarter valued at approximately $99,000. Finally, Shell Asset Management Co. purchased a new stake in MiMedx Group in the first quarter worth approximately $113,000. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Trading Down 2.0 %

Shares of MDXG opened at $5.51 on Friday. The company has a 50 day simple moving average of $6.22 and a two-hundred day simple moving average of $6.80. MiMedx Group, Inc. has a 1 year low of $5.47 and a 1 year high of $9.27. The firm has a market cap of $813.30 million, a P/E ratio of 12.52 and a beta of 1.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.85 and a quick ratio of 3.22.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Craig Hallum cut their price target on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of MiMedx Group in a research note on Thursday, August 1st. Finally, StockNews.com upgraded MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $12.00.

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.