California State Teachers Retirement System Has $2.75 Million Position in MiMedx Group, Inc (MDXG)
California State Teachers Retirement System reduced its position in MiMedx Group, Inc (NASDAQ:MDXG) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,381 shares of the medical equipment provider’s stock after selling 18,000 shares during the quarter. California State Teachers Retirement System owned 0.16% of MiMedx Group worth $2,745,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Kestrel Investment Management Corp purchased a new stake in MiMedx Group in the 2nd quarter worth about $10,210,000. State of Wisconsin Investment Board purchased a new stake in MiMedx Group in the 2nd quarter worth about $1,183,000. Rowland & Co. Investment Counsel ADV purchased a new stake in MiMedx Group in the 2nd quarter worth about $3,040,000. Paradigm Asset Management Co. LLC purchased a new stake in MiMedx Group in the 2nd quarter worth about $167,000. Finally, OppenheimerFunds Inc. raised its position in MiMedx Group by 45.2% in the 1st quarter. OppenheimerFunds Inc. now owns 22,860 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 7,112 shares during the period. 61.41% of the stock is currently owned by institutional investors.
MiMedx Group, Inc (NASDAQ:MDXG) opened at $12.36 on Friday. The company has a market cap of $1,410.14, a P/E ratio of 60.48, a PEG ratio of 3.02 and a beta of 0.91. MiMedx Group, Inc has a 1 year low of $7.64 and a 1 year high of $17.47.
MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. The business had revenue of $84.60 million for the quarter, compared to analyst estimates of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. analysts predict that MiMedx Group, Inc will post 0.24 EPS for the current fiscal year.
MiMedx Group declared that its Board of Directors has approved a share buyback program on Wednesday, July 26th that authorizes the company to buyback $14.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.
A number of analysts recently weighed in on MDXG shares. BidaskClub lowered shares of MiMedx Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. 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. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a research report on Sunday, August 20th. Finally, Lake Street Capital increased their price objective on shares of MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.40.
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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