Richmond Brothers Inc. Sells 21,452 Shares of MiMedx Group, Inc $MDXG

Richmond Brothers Inc. lessened its stake in MiMedx Group, Inc (NASDAQ:MDXG) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,985 shares of the company’s stock after selling 21,452 shares during the quarter. MiMedx Group accounts for approximately 0.5% of Richmond Brothers Inc.’s holdings, making the stock its 24th biggest position. Richmond Brothers Inc. owned approximately 0.08% of MiMedx Group worth $739,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. CWM LLC raised its holdings in MiMedx Group by 63.8% in the second quarter. CWM LLC now owns 4,857 shares of the company’s stock worth $30,000 after buying an additional 1,892 shares during the last quarter. Virtus Advisers LLC bought a new stake in shares of MiMedx Group during the first quarter valued at approximately $40,000. PNC Financial Services Group Inc. lifted its position in MiMedx Group by 1,808.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,500 shares of the company’s stock valued at $46,000 after acquiring an additional 7,107 shares in the last quarter. Legato Capital Management LLC bought a new stake in shares of MiMedx Group in the 1st quarter worth $101,000. Finally, AQR Capital Management LLC increased its holdings in shares of MiMedx Group by 42.6% in the 1st quarter. AQR Capital Management LLC now owns 14,374 shares of the company’s stock worth $109,000 after purchasing an additional 4,296 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MiMedx Group

In related news, insider Kimberly Maersk-Moller sold 58,300 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $7.42, for a total transaction of $432,586.00. Following the completion of the transaction, the insider directly owned 236,982 shares in the company, valued at approximately $1,758,406.44. The trade was a 19.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

MiMedx Group Price Performance

NASDAQ MDXG opened at $7.49 on Thursday. The company has a 50-day moving average price of $7.06 and a 200-day moving average price of $6.83. MiMedx Group, Inc has a 52 week low of $5.79 and a 52 week high of $10.14. The company has a quick ratio of 3.90, a current ratio of 4.39 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.11 billion, a P/E ratio of 27.73 and a beta of 1.70.

MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Monday, November 13th. The company reported ($0.03) EPS for the quarter. MiMedx Group had a net margin of 10.38% and a return on equity of 28.35%. The business had revenue of $67.69 million for the quarter. Equities research analysts anticipate that MiMedx Group, Inc will post 0.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald increased their price objective on MiMedx Group from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MiMedx Group in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MiMedx Group presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

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.