Allspring Global Investments Holdings LLC Increases Stock Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Allspring Global Investments Holdings LLC boosted its position in MiMedx Group, Inc. (NASDAQ:MDXG) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 211,571 shares of the company’s stock after acquiring an additional 13,628 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MiMedx Group were worth $1,855,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in shares of MiMedx Group in the fourth quarter worth about $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MiMedx Group in the 3rd quarter worth approximately $38,000. Fairfield Bush & CO. purchased a new position in shares of MiMedx Group during the second quarter valued at approximately $51,000. Delphia USA Inc. bought a new position in shares of MiMedx Group during the first quarter valued at approximately $55,000. Finally, Lazard Asset Management LLC purchased a new stake in MiMedx Group in the fourth quarter worth $56,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling at MiMedx Group

In other news, CAO William Frank Iv Hulse sold 20,381 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total value of $162,028.95. Following the sale, the chief accounting officer now directly owns 479,959 shares of the company’s stock, valued at approximately $3,815,674.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $8.07, for a total transaction of $125,028.51. Following the sale, the chief operating officer now directly owns 416,321 shares of the company’s stock, valued at approximately $3,359,710.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William Frank Iv Hulse sold 20,381 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total transaction of $162,028.95. Following the sale, the chief accounting officer now owns 479,959 shares of the company’s stock, valued at $3,815,674.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,145 shares of company stock valued at $409,378. Corporate insiders own 19.90% of the company’s stock.

MiMedx Group Stock Performance

Shares of MiMedx Group stock opened at $6.29 on Monday. MiMedx Group, Inc. has a 12 month low of $3.37 and a 12 month high of $9.27. The firm has a market capitalization of $924.38 million, a P/E ratio of 19.66 and a beta of 1.32. The company has a current ratio of 3.57, a quick ratio of 3.11 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $7.64 and a two-hundred day simple moving average of $7.60.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). MiMedx Group had a return on equity of 41.12% and a net margin of 14.49%. The business had revenue of $86.83 million during the quarter, compared to the consensus estimate of $85.58 million. On average, equities analysts forecast that MiMedx Group, Inc. will post 0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MDXG. Lake Street Capital began coverage on shares of MiMedx Group in a report on Thursday, March 7th. They issued a “buy” rating and a $12.00 price objective for the company. Mizuho increased their price target on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MiMedx Group currently has an average rating of “Buy” and a consensus target price of $12.25.

About MiMedx Group

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue's inherent biological properties and regulatory proteins.