Richmond Brothers Inc. Sells 179,673 Shares of MiMedx Group, Inc. (NASDAQ:MDXG)

Richmond Brothers Inc. lessened its holdings in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 16.4% during the second quarter, Holdings Channel.com reports. The firm owned 917,343 shares of the company’s stock after selling 179,673 shares during the quarter. MiMedx Group makes up 12.6% of Richmond Brothers Inc.’s investment portfolio, making the stock its 2nd biggest holding. Richmond Brothers Inc.’s holdings in MiMedx Group were worth $6,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MDXG. Headlands Technologies LLC acquired a new position in MiMedx Group in the first quarter valued at $27,000. Isthmus Partners LLC increased its stake in MiMedx Group by 30.4% in the second quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock valued at $27,000 after purchasing an additional 91,714 shares in the last quarter. Quest Partners LLC bought a new stake in MiMedx Group in the second quarter valued at $81,000. Entropy Technologies LP bought a new stake in MiMedx Group in the first quarter valued at $99,000. Finally, Shell Asset Management Co. bought a new stake in MiMedx Group in the first quarter valued at $113,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Stock Performance

Shares of MDXG stock opened at $6.18 on Thursday. The stock has a market capitalization of $912.19 million, a P/E ratio of 14.05 and a beta of 1.98. The company has a current ratio of 3.85, a quick ratio of 3.22 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $6.71 and its 200 day moving average is $7.04. MiMedx Group, Inc. has a 12 month low of $5.57 and a 12 month high of $9.27.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. The company had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $88.44 million. On average, sell-side analysts anticipate that MiMedx Group, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

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