Squarepoint Ops LLC Buys 242,714 Shares of MiMedx Group, Inc $MDXG

Squarepoint Ops LLC lifted its position in MiMedx Group, Inc (NASDAQ:MDXG) by 73.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 571,930 shares of the company’s stock after acquiring an additional 242,714 shares during the period. Squarepoint Ops LLC’s holdings in MiMedx Group were worth $2,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDXG. Sunbelt Securities Inc. purchased a new stake in shares of MiMedx Group during the 1st quarter worth $42,000. E Fund Management Co. Ltd. purchased a new stake in MiMedx Group during the 2nd quarter worth about $45,000. Syon Capital LLC acquired a new position in MiMedx Group in the second quarter valued at $45,000. Legal & General Group Plc acquired a new stake in shares of MiMedx Group in the 2nd quarter worth $45,000. Finally, HB Wealth Management LLC acquired a new position in shares of MiMedx Group in the second quarter worth $51,000. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Trading Up 1.5%

MDXG opened at $4.64 on Tuesday. The company has a fifty day moving average of $4.34 and a 200-day moving average of $4.04. MiMedx Group, Inc has a twelve month low of $3.03 and a twelve month high of $7.97. The company has a quick ratio of 4.79, a current ratio of 5.33 and a debt-to-equity ratio of 0.07. The stock has a market cap of $676.33 million, a PE ratio of 116.03 and a beta of 1.43.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $64.36 million for the quarter, compared to analyst estimates of $63.46 million. MiMedx Group had a net margin of 1.76% and a return on equity of 12.09%. On average, sell-side analysts predict that MiMedx Group, Inc will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDXG. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price objective on shares of MiMedx Group in a research note on Monday, August 17th. Weiss Ratings upgraded shares of MiMedx Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 27th. Raymond James Financial set a $8.00 price target on MiMedx Group in a research note on Monday, August 17th. Craig Hallum upped their target price on shares of MiMedx Group from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, Seaport Research Partners lowered MiMedx Group to a “neutral” rating in a report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.57.

MiMedx Group Profile

MiMedx Group, Inc is a biotechnology company that develops and markets regenerative biologic products derived from human placental tissue. Its products are designed to support the body’s natural healing processes and are used by healthcare professionals in wound care, surgical applications, and musculoskeletal treatment.

The company’s portfolio includes dehydrated human amnion/chorion membrane allografts, including EPIFIX, AMNIOFIX, and AMNIOCORD. These products are used in applications such as chronic wound management, tissue repair, and protection of soft tissue.