MiMedx Group, Inc. (NASDAQ:MDXG) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its stake in MiMedx Group, Inc. (NASDAQ:MDXG) by 191.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,250 shares of the company’s stock after acquiring an additional 35,000 shares during the period. Truist Financial Corp’s holdings in MiMedx Group were worth $369,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Isthmus Partners LLC raised its stake in shares of MiMedx Group by 30.4% in the second 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 in the last quarter. Headlands Technologies LLC acquired a new stake in shares of MiMedx Group in the first quarter valued at $27,000. Point72 Asset Management L.P. acquired a new stake in shares of MiMedx Group in the second quarter valued at $40,000. Quest Partners LLC acquired a new stake in shares of MiMedx Group in the second quarter valued at $81,000. Finally, Entropy Technologies LP acquired a new stake in shares of MiMedx Group in the first quarter valued at $99,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Stock Down 0.3 %

MDXG opened at $5.83 on Friday. The business’s 50-day simple moving average is $6.16 and its 200-day simple moving average is $6.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.22 and a current ratio of 3.85. MiMedx Group, Inc. has a one year low of $5.47 and a one year high of $9.27. The stock has a market capitalization of $860.53 million, a P/E ratio of 13.25 and a beta of 1.97.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, July 31st. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. MiMedx Group had a return on equity of 34.24% and a net margin of 23.63%. The business had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $88.44 million. Analysts anticipate that MiMedx Group, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

MDXG has been the topic of several analyst reports. StockNews.com cut MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of MiMedx Group in a research note on Thursday, August 1st. Finally, Craig Hallum cut their price target on MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price 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.