Franklin Resources Inc. Trims Stake in MiMedx Group, Inc. (NASDAQ:MDXG)

Franklin Resources Inc. decreased its stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 600,012 shares of the company’s stock after selling 18,683 shares during the period. Franklin Resources Inc. owned 0.41% of MiMedx Group worth $3,438,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of MiMedx Group by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 183,021 shares of the company’s stock valued at $1,082,000 after acquiring an additional 1,822 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of MiMedx Group by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 34,343 shares of the company’s stock worth $233,000 after purchasing an additional 2,329 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of MiMedx Group by 0.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 355,387 shares of the company’s stock worth $2,100,000 after purchasing an additional 2,737 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of MiMedx Group by 30.0% during the third quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company’s stock worth $77,000 after buying an additional 3,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of MiMedx Group by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 45,623 shares of the company’s stock valued at $316,000 after buying an additional 3,222 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, MiMedx Group has a consensus rating of “Buy” and an average target price of $12.00.

MiMedx Group Trading Down 1.5 %

Shares of MDXG stock opened at $9.13 on Wednesday. MiMedx Group, Inc. has a 1-year low of $5.47 and a 1-year high of $10.14. The firm’s 50-day simple moving average is $8.08 and its 200-day simple moving average is $7.10. The firm has a market cap of $1.34 billion, a P/E ratio of 16.60 and a beta of 1.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53.

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.