MiMedx Group Inc (NASDAQ:MDXG) was up 2.3% on Wednesday . The company traded as high as $17.21 and last traded at $16.67. Approximately 822,049 shares were traded during trading, a decline of 59% from the average daily volume of 1,987,129 shares. The stock had previously closed at $17.07.

Several equities research analysts have recently commented on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 target price on shares of MiMedx Group in a research note on Friday, December 1st. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. Lake Street Capital set a $18.00 target price on MiMedx Group and gave the company a “buy” rating in a research note on Thursday, December 14th. BidaskClub cut MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $21.00 target price on shares of MiMedx Group in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.00.

The company has a market cap of $1,822.08, a P/E ratio of 49.58, a P/E/G ratio of 2.13 and a beta of 1.08.

MiMedx Group announced that its board has approved a stock buyback plan on Wednesday, December 13th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the medical equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its position in shares of MiMedx Group by 7.5% in the 2nd 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 last quarter. Amalgamated Bank boosted its position in shares of MiMedx Group by 5.9% in the 2nd quarter. Amalgamated Bank now owns 14,292 shares of the medical equipment provider’s stock worth $214,000 after purchasing an additional 792 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MiMedx Group by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 42,357 shares of the medical equipment provider’s stock worth $634,000 after purchasing an additional 982 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of MiMedx Group by 3.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 55,100 shares of the medical equipment provider’s stock worth $825,000 after purchasing an additional 1,882 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of MiMedx Group by 6.0% in 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. 69.33% of the stock is owned by institutional investors.

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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.

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