Principal Financial Group Inc. Grows Stock Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Principal Financial Group Inc. raised its position in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,226 shares of the company’s stock after buying an additional 4,731 shares during the quarter. Principal Financial Group Inc.’s holdings in MiMedx Group were worth $579,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MDXG. Van ECK Associates Corp acquired a new position in shares of MiMedx Group during the fourth quarter valued at about $40,000. Point72 DIFC Ltd increased its holdings in shares of MiMedx Group by 127.6% during the third quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after acquiring an additional 4,275 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of MiMedx Group during the third quarter valued at about $64,000. Orion Capital Management LLC increased its holdings 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 in the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in shares of MiMedx Group by 30.0% during the third quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company’s stock valued at $77,000 after acquiring an additional 3,000 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MDXG shares. StockNews.com downgraded shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of MiMedx Group in a report on Thursday, February 27th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, MiMedx Group has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Price Performance

Shares of NASDAQ:MDXG opened at $8.00 on Friday. MiMedx Group, Inc. has a twelve month low of $5.47 and a twelve month high of $10.14. The company’s 50 day moving average is $8.63 and its 200 day moving average is $7.75. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.18 billion, a PE ratio of 14.55 and a beta of 1.97.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. The company had revenue of $92.91 million for the quarter, compared to the consensus estimate of $89.42 million. On average, sell-side analysts forecast that MiMedx Group, Inc. will post 0.3 EPS for the current year.

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.