Old Mutual Global Investors UK Ltd. lowered its stake in shares of MiMedx Group Inc. (NASDAQ:MDXG) by 73.6% during the second quarter, Holdings Channel reports. The firm owned 18,131 shares of the company’s stock after selling 50,577 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in MiMedx Group were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MDXG. Berkeley Capital Partners LLC boosted its stake in MiMedx Group by 4.7% in the first quarter. Berkeley Capital Partners LLC now owns 22,111 shares of the company’s stock valued at $193,000 after buying an additional 988 shares during the last quarter. Legal & General Group Plc raised its position in MiMedx Group by 9.0% in the first quarter. Legal & General Group Plc now owns 16,183 shares of the company’s stock valued at $142,000 after buying an additional 1,343 shares during the period. Arizona State Retirement System raised its position in MiMedx Group by 3.1% in the first quarter. Arizona State Retirement System now owns 50,216 shares of the company’s stock valued at $439,000 after buying an additional 1,500 shares during the period. Patten & Patten Inc. TN raised its position in MiMedx Group by 15.1% in the second quarter. Patten & Patten Inc. TN now owns 29,570 shares of the company’s stock valued at $236,000 after buying an additional 3,870 shares during the period. Finally, Prudential Financial Inc. raised its position in MiMedx Group by 2.1% in the first quarter. Prudential Financial Inc. now owns 235,600 shares of the company’s stock valued at $2,059,000 after buying an additional 4,800 shares during the period. Institutional investors and hedge funds own 44.35% of the company’s stock.

Shares of MiMedx Group Inc. (NASDAQ:MDXG) traded up 1.00% on Friday, reaching $9.08. The company’s stock had a trading volume of 1,584,572 shares. The stock has a market cap of $999.18 million, a P/E ratio of 43.03 and a beta of 0.72. MiMedx Group Inc. has a 52-week low of $6.64 and a 52-week high of $11.74. The firm’s 50 day moving average is $7.56 and its 200-day moving average is $7.86.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Tuesday, July 26th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. MiMedx Group had a net margin of 10.92% and a return on equity of 22.16%. The company earned $57 million during the quarter, compared to the consensus estimate of $56.49 million. During the same quarter in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. On average, equities research analysts forecast that MiMedx Group Inc. will post $0.22 EPS for the current year.

Several research analysts have weighed in on the company. Zacks Investment Research raised MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Brean Capital reaffirmed a “buy” rating on shares of MiMedx Group in a research report on Wednesday, June 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of MiMedx Group in a research report on Wednesday, August 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $10.89.

In related news, insider William Charles Taylor sold 20,400 shares of MiMedx Group stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $7.55, for a total transaction of $154,020.00. Following the sale, the insider now directly owns 566,566 shares in the company, valued at $4,277,573.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.30% of the company’s stock.

About MiMedx Group

MiMedx Group, Inc (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories.

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