Franklin Resources Inc. Sells 4,000 Shares of MiMedx Group, Inc. (NASDAQ:MDXG)

Franklin Resources Inc. cut its position in MiMedx Group, Inc. (NASDAQ:MDXG) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 596,012 shares of the company’s stock after selling 4,000 shares during the quarter. Franklin Resources Inc.’s holdings in MiMedx Group were worth $5,734,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MDXG. Norges Bank acquired a new stake in MiMedx Group in the fourth quarter worth $4,020,000. JPMorgan Chase & Co. raised its holdings in MiMedx Group by 133.1% in the fourth quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company’s stock worth $6,668,000 after purchasing an additional 395,739 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in MiMedx Group by 484.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 362,481 shares of the company’s stock worth $3,487,000 after purchasing an additional 300,433 shares during the period. Jane Street Group LLC raised its holdings in MiMedx Group by 133.6% in the third quarter. Jane Street Group LLC now owns 305,652 shares of the company’s stock worth $1,806,000 after purchasing an additional 174,797 shares during the period. Finally, Barclays PLC raised its holdings in MiMedx Group by 163.9% in the third quarter. Barclays PLC now owns 262,449 shares of the company’s stock worth $1,550,000 after purchasing an additional 163,005 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MiMedx Group

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

Analyst Ratings Changes

Several research firms have weighed in on MDXG. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 target price on shares of MiMedx Group in a report on Thursday, February 27th. StockNews.com upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Friday, April 4th.

MiMedx Group Trading Up 4.4 %

Shares of NASDAQ:MDXG opened at $7.16 on Thursday. MiMedx Group, Inc. has a 12 month low of $5.47 and a 12 month high of $10.14. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $7.92 and its 200 day simple moving average is $7.97. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 13.02 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. The business had revenue of $92.91 million for the quarter, compared to analyst estimates of $89.42 million. As a group, research analysts forecast that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

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.