MiMedx Group, Inc (MDXG) Shares Bought by Nordea Investment Management AB
Nordea Investment Management AB increased its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 81.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,953 shares of the medical equipment provider’s stock after acquiring an additional 5,800 shares during the quarter. Nordea Investment Management AB’s holdings in MiMedx Group were worth $154,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. American International Group Inc. grew its position in MiMedx Group by 6.0% during the 3rd quarter. American International Group Inc. now owns 81,960 shares of the medical equipment provider’s stock worth $974,000 after purchasing an additional 4,645 shares during the last quarter. Albion Financial Group UT purchased a new position in MiMedx Group during the 3rd quarter worth $332,000. D.A. Davidson & CO. purchased a new position in MiMedx Group during the 3rd quarter worth $166,000. Yorktown Management & Research Co Inc purchased a new position in MiMedx Group during the 3rd quarter worth $315,000. Finally, Ameriprise Financial Inc. grew its position in MiMedx Group by 4.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 686,716 shares of the medical equipment provider’s stock worth $8,158,000 after purchasing an additional 27,618 shares during the last quarter. Hedge funds and other institutional investors own 69.36% of the company’s stock.
Several research analysts have issued reports on MDXG shares. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research report on Friday, December 1st. Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of MiMedx Group in a research report on Friday, December 1st. BidaskClub downgraded shares of MiMedx Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research downgraded shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. MiMedx Group currently has an average rating of “Hold” and a consensus price target of $15.40.
Shares of MiMedx Group, Inc (NASDAQ:MDXG) opened at $11.75 on Monday. The firm has a market cap of $1,304.66, a PE ratio of 55.95, a PEG ratio of 2.98 and a beta of 0.87. MiMedx Group, Inc has a fifty-two week low of $7.64 and a fifty-two week high of $17.47.
MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. analysts predict that MiMedx Group, Inc will post 0.23 earnings per share for the current fiscal year.
MiMedx Group announced that its Board of Directors has authorized a stock buyback plan on Monday, October 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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