Avantax Advisory Services Inc. Reduces Stock Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Avantax Advisory Services Inc. reduced its position in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,916 shares of the company’s stock after selling 4,884 shares during the period. Avantax Advisory Services Inc.’s holdings in MiMedx Group were worth $172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MDXG. AlphaQuest LLC acquired a new stake in shares of MiMedx Group during the 4th quarter worth approximately $88,000. Argentarii LLC acquired a new stake in MiMedx Group during the fourth quarter worth $160,000. Raymond James Financial Inc. acquired a new stake in MiMedx Group during the fourth quarter worth $887,000. Proficio Capital Partners LLC purchased a new stake in MiMedx Group in the fourth quarter valued at $443,000. Finally, M&T Bank Corp acquired a new position in shares of MiMedx Group in the 4th quarter valued at $368,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Stock Up 1.3 %

Shares of NASDAQ MDXG opened at $7.74 on Friday. MiMedx Group, Inc. has a 52-week low of $5.47 and a 52-week high of $10.14. The business’s 50 day moving average is $8.30 and its two-hundred day moving average is $7.89. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 14.07 and a beta of 1.97. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10.

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

Insider Activity

In other MiMedx Group news, CAO William Frank Iv Hulse sold 81,446 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.80, for a total value of $635,278.80. Following the sale, the chief accounting officer now owns 494,774 shares of the company’s stock, valued at $3,859,237.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the transaction, the insider now directly owns 310,836 shares of the company’s stock, valued at approximately $2,452,496.04. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,018 shares of company stock valued at $1,130,312. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of MiMedx Group in a report on Thursday, February 27th.

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.