Truist Financial Corp Increases Position in MiMedx Group, Inc $MDXG

Truist Financial Corp increased its stake in MiMedx Group, Inc (NASDAQ:MDXG) by 80.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,250 shares of the company’s stock after purchasing an additional 43,000 shares during the quarter. Truist Financial Corp owned 0.07% of MiMedx Group worth $588,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its stake in shares of MiMedx Group by 3.3% during the 1st quarter. First Light Asset Management LLC now owns 3,453,074 shares of the company’s stock worth $26,243,000 after purchasing an additional 109,213 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its position in MiMedx Group by 0.7% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,738,678 shares of the company’s stock valued at $13,214,000 after buying an additional 12,414 shares in the last quarter. Millennium Management LLC lifted its position in MiMedx Group by 93.9% during the first quarter. Millennium Management LLC now owns 1,230,984 shares of the company’s stock valued at $9,355,000 after buying an additional 596,016 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of MiMedx Group by 12.0% during the second quarter. Harbor Capital Advisors Inc. now owns 1,169,195 shares of the company’s stock valued at $7,144,000 after purchasing an additional 125,519 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of MiMedx Group by 22.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,121,814 shares of the company’s stock worth $8,526,000 after purchasing an additional 207,397 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

MiMedx Group Price Performance

NASDAQ MDXG opened at $6.71 on Thursday. The company has a 50 day simple moving average of $7.05 and a 200-day simple moving average of $6.81. MiMedx Group, Inc has a 52-week low of $5.59 and a 52-week high of $10.14. The firm has a market capitalization of $992.81 million, a price-to-earnings ratio of 31.95 and a beta of 1.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.39 and a quick ratio of 3.90.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.03) EPS for the quarter. MiMedx Group had a return on equity of 23.03% and a net margin of 8.84%.The firm had revenue of $67.69 million during the quarter. Equities research analysts predict that MiMedx Group, Inc will post 0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDXG has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of MiMedx Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of MiMedx Group from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Finally, Cantor Fitzgerald upped their price objective on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.00.

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.