Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 60.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,995 shares of the company’s stock after selling 164,405 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MiMedx Group were worth $1,039,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp purchased a new position in shares of MiMedx Group during the fourth quarter worth approximately $40,000. Point72 DIFC Ltd grew its position in MiMedx Group by 127.6% in the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after buying an additional 4,275 shares during the last quarter. Orion Capital Management LLC grew its position in MiMedx Group by 46.3% in the 3rd quarter. Orion Capital Management LLC now owns 11,700 shares of the company’s stock valued at $69,000 after buying an additional 3,700 shares during the last quarter. SkyView Investment Advisors LLC grew its position in MiMedx Group by 30.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company’s stock valued at $77,000 after buying an additional 3,000 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in MiMedx Group in the 4th quarter valued at $88,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price objective on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group Stock Performance

NASDAQ:MDXG opened at $7.97 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 14.49 and a beta of 1.97. MiMedx Group, Inc. has a 1-year low of $5.47 and a 1-year high of $10.14. The firm’s fifty day moving average price is $8.39 and its 200 day moving average price is $7.84. 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 (NASDAQ:MDXG) last issued its earnings results on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $92.91 million for the quarter, compared to analyst estimates of $89.42 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. On average, sell-side analysts expect that MiMedx Group, Inc. will post 0.3 EPS for the current year.

Insiders Place Their Bets

In other news, CAO William Frank Iv Hulse sold 81,446 shares of MiMedx Group stock in a transaction on Monday, March 10th. The stock was sold at an average price of $7.80, for a total transaction of $635,278.80. Following the completion of the transaction, the chief accounting officer now owns 494,774 shares of the company’s stock, valued at $3,859,237.20. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of MiMedx Group stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the transaction, the insider now directly owns 310,836 shares of the company’s stock, valued at $2,452,496.04. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,018 shares of company stock worth $1,130,312. Corporate insiders own 1.30% of the company’s stock.

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.