M&T Bank Corp Cuts Stock Holdings in MiMedx Group, Inc (NASDAQ:MDXG)

M&T Bank Corp lowered its stake in shares of MiMedx Group, Inc (NASDAQ:MDXG) by 54.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,478 shares of the company’s stock after selling 20,724 shares during the quarter. M&T Bank Corp’s holdings in MiMedx Group were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of MDXG. Virtus Fund Advisers LLC acquired a new position in shares of MiMedx Group during the fourth quarter worth $35,000. Tower Research Capital LLC TRC grew its stake in shares of MiMedx Group by 77.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock worth $63,000 after purchasing an additional 2,837 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of MiMedx Group during the fourth quarter worth $107,000. Ameriprise Financial Inc. acquired a new position in shares of MiMedx Group during the fourth quarter worth $115,000. Finally, Sowell Financial Services LLC acquired a new position in shares of MiMedx Group during the first quarter worth $115,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

MiMedx Group Trading Down 4.5%

Shares of MDXG opened at $6.42 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.70 and a quick ratio of 4.13. The firm has a 50 day simple moving average of $6.48 and a 200-day simple moving average of $7.40. MiMedx Group, Inc has a 1-year low of $5.47 and a 1-year high of $10.14. The stock has a market cap of $948.25 million, a price-to-earnings ratio of 23.78 and a beta of 1.76.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, April 30th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $88.21 million during the quarter, compared to analysts’ expectations of $86.32 million. MiMedx Group had a net margin of 11.40% and a return on equity of 22.70%. Equities analysts forecast that MiMedx Group, Inc will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling at MiMedx Group

In other news, CEO Joseph H. Capper acquired 200,000 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $6.34 per share, for a total transaction of $1,268,000.00. Following the acquisition, the chief executive officer directly owned 529,530 shares of the company’s stock, valued at $3,357,220.20. This represents a 60.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of MiMedx Group in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of MiMedx Group from a “buy” rating to a “hold” rating in a research note on Friday.

MiMedx Group Company Profile

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.