Bank of America Corp DE Buys 68,475 Shares of MiMedx Group, Inc (MDXG)
Bank of America Corp DE increased its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 38.9% during the first quarter, Holdings Channel reports. The institutional investor owned 244,687 shares of the medical equipment provider’s stock after buying an additional 68,475 shares during the period. Bank of America Corp DE’s holdings in MiMedx Group were worth $2,332,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in MiMedx Group by 56.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 74,013 shares of the medical equipment provider’s stock valued at $656,000 after buying an additional 26,713 shares in the last quarter. Teachers Advisors LLC boosted its stake in MiMedx Group by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 209,027 shares of the medical equipment provider’s stock valued at $1,852,000 after buying an additional 3,438 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in MiMedx Group by 45.2% in the first quarter. OppenheimerFunds Inc. now owns 22,860 shares of the medical equipment provider’s stock valued at $217,000 after buying an additional 7,112 shares in the last quarter. Wells Fargo & Company MN boosted its stake in MiMedx Group by 9.5% in the first quarter. Wells Fargo & Company MN now owns 471,131 shares of the medical equipment provider’s stock valued at $4,491,000 after buying an additional 41,028 shares in the last quarter. Finally, PEAK6 Investments L.P. bought a new stake in MiMedx Group during the first quarter valued at approximately $269,000. 53.75% of the stock is owned by hedge funds and other institutional investors.
Shares of MiMedx Group, Inc (NASDAQ:MDXG) traded up 1.09% on Friday, reaching $14.79. The company had a trading volume of 184,165 shares. MiMedx Group, Inc has a 1-year low of $6.94 and a 1-year high of $16.20. The firm has a 50-day moving average price of $14.99 and a 200 day moving average price of $11.94. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 77.84 and a beta of 1.03.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. The firm had revenue of $76.40 million during the quarter, compared to the consensus estimate of $74.22 million. During the same period in the previous year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. Equities research analysts predict that MiMedx Group, Inc will post $0.31 earnings per share for the current year.
MiMedx Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 26th that allows the company to repurchase $14.00 million in shares. This repurchase authorization allows the medical equipment provider to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
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MDXG has been the subject of several recent research reports. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of MiMedx Group in a report on Wednesday, April 26th. First Analysis cut MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price target for the company. in a report on Tuesday, May 23rd. Finally, Lake Street Capital increased their price target on MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. MiMedx Group has an average rating of “Hold” and a consensus target price of $13.33.
In other MiMedx Group news, insider William Charles Taylor sold 26,571 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $13.74, for a total value of $365,085.54. Following the completion of the transaction, the insider now directly owns 533,612 shares in the company, valued at approximately $7,331,828.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.40% of the company’s stock.
About MiMedx Group
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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