Cornerstone Capital Management Holdings LLC. decreased its position in shares of MiMedx Group Inc (NASDAQ:MDXG) by 8.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 48,732 shares of the medical equipment provider’s stock after selling 4,300 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in MiMedx Group were worth $578,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allianz Asset Management GmbH purchased a new position in MiMedx Group during the third quarter worth approximately $606,000. Convergence Investment Partners LLC raised its stake in MiMedx Group by 48.2% during the third quarter. Convergence Investment Partners LLC now owns 74,680 shares of the medical equipment provider’s stock worth $887,000 after purchasing an additional 24,290 shares during the period. OxFORD Asset Management LLP raised its stake in MiMedx Group by 99.0% during the third quarter. OxFORD Asset Management LLP now owns 121,576 shares of the medical equipment provider’s stock worth $1,447,000 after purchasing an additional 60,477 shares during the period. Dimensional Fund Advisors LP raised its stake in MiMedx Group by 15.5% during the third quarter. Dimensional Fund Advisors LP now owns 48,930 shares of the medical equipment provider’s stock worth $581,000 after purchasing an additional 6,573 shares during the period. Finally, Investment Centers of America Inc. acquired a new stake in shares of MiMedx Group in the third quarter worth $170,000. 69.21% of the stock is currently owned by institutional investors and hedge funds.
MiMedx Group Inc (NASDAQ MDXG) opened at $13.06 on Tuesday. The firm has a market cap of $1,480.00, a price-to-earnings ratio of 43.53, a price-to-earnings-growth ratio of 3.26 and a beta of 0.87. MiMedx Group Inc has a fifty-two week low of $7.64 and a fifty-two week high of $17.47.
MiMedx Group declared that its Board of Directors has authorized a stock buyback program on Monday, October 9th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the medical equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently issued reports on MDXG shares. Needham & Company LLC increased their price objective on shares of MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. 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, November 24th. Finally, Lake Street Capital set a $18.00 price target on shares of MiMedx Group and gave the company a “buy” rating in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.00.
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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