Ruggie Capital Group Has $101,000 Stake in MiMedx Group, Inc (NASDAQ:MDXG)
Ruggie Capital Group continued to hold its position in MiMedx Group, Inc (NASDAQ:MDXG) during the second quarter, Holdings Channel reports. The fund owned 6,900 shares of the medical equipment provider’s stock at the end of the second quarter. Ruggie Capital Group’s holdings in MiMedx Group were worth $101,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position 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 worth $656,000 after buying an additional 26,713 shares during the period. Teachers Advisors LLC raised its position 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 worth $1,852,000 after buying an additional 3,438 shares during the period. Louisiana State Employees Retirement System raised its position in MiMedx Group by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the medical equipment provider’s stock worth $389,000 after buying an additional 300 shares during the period. Patten & Patten Inc. TN raised its position in MiMedx Group by 4.9% in the first quarter. Patten & Patten Inc. TN now owns 29,800 shares of the medical equipment provider’s stock worth $284,000 after buying an additional 1,400 shares during the period. Finally, State of Alaska Department of Revenue raised its position in MiMedx Group by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 11,100 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 53.75% of the company’s stock.
Shares of MiMedx Group, Inc (NASDAQ MDXG) opened at 15.54 on Thursday. The firm’s 50-day moving average price is $15.02 and its 200-day moving average price is $11.92. MiMedx Group, Inc has a one year low of $6.94 and a one year high of $16.20. The stock has a market capitalization of $1.67 billion, a P/E ratio of 81.79 and a beta of 1.03.
MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.07. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The firm had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $74.22 million. During the same quarter last year, the company posted $0.05 earnings per share. MiMedx Group’s revenue was up 33.3% on a year-over-year basis. Equities research analysts anticipate that MiMedx Group, Inc will post $0.31 EPS for the current fiscal year.
MiMedx Group declared that its Board of Directors has initiated a share buyback program on Wednesday, July 26th that allows the company to repurchase $14.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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A number of research analysts recently issued reports on MDXG shares. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price (up from $12.00) on shares of MiMedx Group in a report on Thursday, April 13th. First Analysis lowered MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 target price for the company. in a report on Tuesday, May 23rd. BidaskClub upgraded MiMedx Group from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Lake Street Capital lifted their target price 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, two have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus 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 firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $13.74, for a total value of $365,085.54. Following the transaction, the insider now owns 533,612 shares of the company’s stock, valued at $7,331,828.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.40% of the company’s stock.
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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