Bank of New York Mellon Corp Raises Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Bank of New York Mellon Corp boosted its stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,344 shares of the company’s stock after purchasing an additional 35,107 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.28% of MiMedx Group worth $2,837,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of MiMedx Group during the 1st quarter worth about $27,000. Entropy Technologies LP acquired a new position in shares of MiMedx Group during the 1st quarter worth about $99,000. Shell Asset Management Co. acquired a new position in shares of MiMedx Group during the 1st quarter worth about $113,000. Victory Capital Management Inc. boosted its position in shares of MiMedx Group by 23.1% during the 4th quarter. Victory Capital Management Inc. now owns 14,916 shares of the company’s stock worth $131,000 after acquiring an additional 2,796 shares in the last quarter. Finally, Optimist Retirement Group LLC acquired a new position in shares of MiMedx Group during the 4th quarter worth about $177,000. 79.15% of the stock is owned by institutional investors and hedge funds.

MiMedx Group Stock Up 1.1 %

Shares of NASDAQ MDXG opened at $6.22 on Monday. The stock has a market cap of $918.10 million, a PE ratio of 14.14 and a beta of 1.98. The company has a quick ratio of 3.22, a current ratio of 3.85 and a debt-to-equity ratio of 0.11. MiMedx Group, Inc. has a 52-week low of $5.57 and a 52-week high of $9.27. The business has a 50-day moving average price of $6.75 and a 200 day moving average price of $7.08.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. MiMedx Group had a return on equity of 34.24% and a net margin of 23.63%. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $88.44 million. Equities research analysts forecast that MiMedx Group, Inc. will post 0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MDXG. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of MiMedx Group in a research report on Thursday, August 1st. StockNews.com raised MiMedx Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Craig Hallum decreased their target price on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $12.00.

MiMedx Group 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.