UBS Asset Management Americas Inc. Sells 18,836 Shares of MiMedx Group, Inc (NASDAQ:MDXG)

UBS Asset Management Americas Inc. decreased its stake in MiMedx Group, Inc (NASDAQ:MDXG) by 25.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,177 shares of the medical equipment provider’s stock after selling 18,836 shares during the period. UBS Asset Management Americas Inc. owned 0.05% of MiMedx Group worth $526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDXG. LS Investment Advisors LLC increased its stake in shares of MiMedx Group by 343.5% in the first quarter. LS Investment Advisors LLC now owns 18,611 shares of the medical equipment provider’s stock valued at $177,000 after buying an additional 14,415 shares during the last quarter. Comerica Bank increased its stake in shares of MiMedx Group by 3.4% in the first quarter. Comerica Bank now owns 111,067 shares of the medical equipment provider’s stock valued at $1,266,000 after buying an additional 3,625 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of MiMedx Group by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 1,324,508 shares of the medical equipment provider’s stock valued at $12,623,000 after buying an additional 28,335 shares during the last quarter. First Trust Advisors LP increased its stake in shares of MiMedx Group by 44.9% in the first quarter. First Trust Advisors LP now owns 73,187 shares of the medical equipment provider’s stock valued at $697,000 after buying an additional 22,668 shares during the last quarter. Finally, Thompson Investment Management Inc. increased its stake in shares of MiMedx Group by 0.6% in the first quarter. Thompson Investment Management Inc. now owns 393,265 shares of the medical equipment provider’s stock valued at $3,748,000 after buying an additional 2,270 shares during the last quarter. Institutional investors own 53.73% of the company’s stock.

MiMedx Group, Inc (MDXG) traded up 2.55% on Friday, reaching $16.52. 1,992,103 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.77 billion, a PE ratio of 86.95 and a beta of 1.03. The firm has a 50 day moving average of $15.14 and a 200 day moving average of $12.29. MiMedx Group, Inc has a 12 month low of $6.94 and a 12 month high of $17.36.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $76.40 million for the quarter, compared to analyst estimates of $74.22 million. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. MiMedx Group’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. Equities analysts predict that MiMedx Group, Inc will post $0.31 earnings per share for the current fiscal year.

MiMedx Group announced that its board has authorized a stock repurchase plan on Wednesday, July 26th that allows the company to repurchase $14.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

WARNING: “UBS Asset Management Americas Inc. Sells 18,836 Shares of MiMedx Group, Inc (NASDAQ:MDXG)” was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.com-unik.info/2017/08/19/mimedx-group-inc-nasdaqmdxg-stake-reduced-by-ubs-asset-management-americas-inc-updated-updated-updated.html.

A number of analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target (up previously from $15.00) on shares of MiMedx Group in a report on Monday, June 26th. BidaskClub raised shares of MiMedx Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Lake Street Capital boosted their price objective on shares of MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, First Analysis lowered shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.33.

In other news, insider William Charles Taylor sold 80,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $14.52, for a total transaction of $1,161,600.00. Following the sale, the insider now directly owns 547,424 shares of the company’s stock, valued at approximately $7,948,596.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.40% of the company’s stock.

MiMedx Group Company Profile

MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.

Institutional Ownership by Quarter for MiMedx Group (NASDAQ:MDXG)

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