Marco Investment Management LLC Buys Shares of 21,000 MiMedx Group Inc (MDXG)
Marco Investment Management LLC bought a new stake in shares of MiMedx Group Inc (NASDAQ:MDXG) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 21,000 shares of the medical equipment provider’s stock, valued at approximately $249,000.
Several other institutional investors have also added to or reduced their stakes in the company. PVG Asset Management Corp purchased a new position in shares of MiMedx Group during the 3rd quarter valued at approximately $127,000. Argent Capital Management LLC boosted its stake in shares of MiMedx Group by 37.2% during the 3rd quarter. Argent Capital Management LLC now owns 254,810 shares of the medical equipment provider’s stock valued at $3,027,000 after buying an additional 69,085 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of MiMedx Group by 25.0% during the 3rd quarter. California Public Employees Retirement System now owns 81,347 shares of the medical equipment provider’s stock valued at $966,000 after buying an additional 16,247 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of MiMedx Group during the 3rd quarter valued at approximately $770,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of MiMedx Group by 6,262.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,725 shares of the medical equipment provider’s stock valued at $151,000 after buying an additional 12,525 shares during the last quarter. Institutional investors own 69.36% of the company’s stock.
MiMedx Group Inc (NASDAQ MDXG) opened at $11.65 on Tuesday. MiMedx Group Inc has a one year low of $7.64 and a one year high of $17.47. The stock has a market capitalization of $1,304.66, a price-to-earnings ratio of 55.95, a P/E/G ratio of 2.98 and a beta of 0.87.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The firm had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $84.60 million. During the same period last year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. sell-side analysts forecast that MiMedx Group Inc will post 0.23 EPS for the current fiscal year.
MiMedx Group announced that its Board of Directors has authorized a stock buyback program on Monday, October 9th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently commented on MDXG. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of MiMedx Group in a research note on Friday, December 1st. Piper Jaffray Companies restated a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research note on Friday, November 24th. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday. Finally, BidaskClub cut MiMedx Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Three equities 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 company presently has an average rating of “Hold” and an average price target of $15.40.
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.
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