JPMorgan Chase & Co. Acquires 215,995 Shares of MiMedx Group, Inc. (NASDAQ:MDXG)

JPMorgan Chase & Co. boosted its holdings in MiMedx Group, Inc. (NASDAQ:MDXG) by 265.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 297,367 shares of the company’s stock after acquiring an additional 215,995 shares during the quarter. JPMorgan Chase & Co. owned 0.20% of MiMedx Group worth $1,757,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MDXG. Blue Trust Inc. bought a new position in MiMedx Group during the 3rd quarter valued at $30,000. Point72 Asset Management L.P. bought a new position in shares of MiMedx Group during the 2nd quarter worth approximately $40,000. Point72 DIFC Ltd boosted its stake in shares of MiMedx Group by 127.6% in the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock worth $45,000 after buying an additional 4,275 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of MiMedx Group during the third quarter valued at approximately $64,000. Finally, Orion Capital Management LLC increased its position in shares of MiMedx Group by 46.3% during the third quarter. Orion Capital Management LLC now owns 11,700 shares of the company’s stock valued at $69,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $12.00.

MiMedx Group Stock Down 1.6 %

MDXG opened at $8.99 on Thursday. The company has a 50 day moving average of $9.22 and a 200 day moving average of $7.44. 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, Inc. has a 12 month low of $5.47 and a 12 month high of $10.14. The company has a market cap of $1.32 billion, a PE ratio of 16.35 and a beta of 1.96.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $84.06 million during the quarter, compared to the consensus estimate of $81.00 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. During the same quarter last year, the company posted $0.05 EPS. On average, sell-side analysts expect that MiMedx Group, Inc. will post 0.3 EPS for the current 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.