D.A. Davidson & CO. acquired a new stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,000 shares of the medical equipment provider’s stock, valued at approximately $166,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lourd Capital LLC lifted its position in shares of MiMedx Group by 0.4% in the second quarter. Lourd Capital LLC now owns 31,120 shares of the medical equipment provider’s stock worth $466,000 after buying an additional 120 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of MiMedx Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 56,871 shares of the medical equipment provider’s stock worth $851,000 after purchasing an additional 147 shares during the period. Pinebridge Investments L.P. increased its stake in shares of MiMedx Group by 2.9% in the second quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock worth $201,000 after purchasing an additional 377 shares during the period. Ameritas Investment Partners Inc. increased its stake 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 purchasing an additional 600 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of MiMedx Group by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 41,500 shares of the medical equipment provider’s stock worth $621,000 after purchasing an additional 700 shares during the period. 70.64% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on MDXG. Needham & Company LLC lifted their price objective on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 5th. Piper Jaffray Companies restated a “buy” rating and set a $18.00 price target on shares of MiMedx Group in a research note on Sunday, August 20th. BidaskClub upgraded MiMedx Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.40.

MiMedx Group, Inc (MDXG) traded up $0.40 during midday trading on Friday, reaching $11.57. The company’s stock had a trading volume of 2,416,500 shares, compared to its average volume of 1,725,506. The firm has a market capitalization of $1,278.01, a P/E ratio of 54.81, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. MiMedx Group, Inc has a 12 month low of $7.64 and a 12 month high of $17.47.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The company’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. equities analysts predict that MiMedx Group, Inc will post 0.24 earnings per share for the current fiscal year.

MiMedx Group declared that its Board of Directors has approved a stock repurchase program on Monday, October 9th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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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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