Quest Partners LLC Makes New $81,000 Investment in MiMedx Group, Inc. (NASDAQ:MDXG)

Quest Partners LLC acquired a new stake in MiMedx Group, Inc. (NASDAQ:MDXG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,620 shares of the company’s stock, valued at approximately $81,000.

Several other institutional investors have also recently added to or reduced their stakes in MDXG. Harbor Capital Advisors Inc. acquired a new position in shares of MiMedx Group in the 2nd quarter valued at $1,781,000. Cannell Capital LLC grew its position in MiMedx Group by 9.1% during the fourth quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock valued at $21,758,000 after acquiring an additional 207,207 shares during the period. Los Angeles Capital Management LLC acquired a new stake in MiMedx Group during the second quarter worth about $988,000. Caxton Associates LP acquired a new stake in MiMedx Group during the first quarter worth about $1,018,000. Finally, Victory Capital Management Inc. raised its holdings in shares of MiMedx Group by 909.0% in the 2nd quarter. Victory Capital Management Inc. now owns 138,449 shares of the company’s stock worth $959,000 after purchasing an additional 124,727 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Stock Down 1.1 %

Shares of NASDAQ:MDXG opened at $6.15 on Wednesday. The company has a market capitalization of $907.76 million, a price-to-earnings ratio of 13.98 and a beta of 1.98. The company has a 50 day moving average of $6.72 and a two-hundred day moving average of $7.05. MiMedx Group, Inc. has a 52-week low of $5.57 and a 52-week high of $9.27. The company has a quick ratio of 3.22, a current ratio of 3.85 and a debt-to-equity ratio of 0.11.

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

Analysts Set New Price Targets

Several research analysts recently commented on MDXG shares. Craig Hallum cut their price target on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of MiMedx Group in a research note on Thursday, August 1st. Finally, StockNews.com upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MiMedx Group currently has an average rating of “Buy” and a consensus target price of $12.00.

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.