GSA Capital Partners LLP lifted its holdings in MiMedx Group Inc (NASDAQ:MDXG) by 27.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,700 shares of the medical equipment provider’s stock after acquiring an additional 19,700 shares during the period. GSA Capital Partners LLP owned approximately 0.08% of MiMedx Group worth $1,101,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in shares of MiMedx Group by 678.9% in the second quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 5,900 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of MiMedx Group in the second quarter worth $109,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of MiMedx Group in the third quarter worth $119,000. PVG Asset Management Corp acquired a new stake in shares of MiMedx Group in the third quarter worth $127,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of MiMedx Group by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after acquiring an additional 600 shares in the last quarter. 69.21% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on MDXG shares. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a research report on Friday, December 1st. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price objective on shares of MiMedx Group in a research report on Friday, December 1st. Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the stock a “buy” rating in a research report on Thursday, December 14th. BidaskClub lowered shares of MiMedx Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $17.00.
MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. analysts forecast that MiMedx Group Inc will post 0.23 EPS for the current fiscal year.
MiMedx Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, October 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the medical equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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MiMedx Group 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.
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