3,343,861 Shares in MiMedx Group, Inc. (NASDAQ:MDXG) Acquired by First Light Asset Management LLC

First Light Asset Management LLC bought a new position in MiMedx Group, Inc. (NASDAQ:MDXG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,343,861 shares of the company’s stock, valued at approximately $32,168,000. MiMedx Group accounts for about 3.1% of First Light Asset Management LLC’s investment portfolio, making the stock its 14th largest position. First Light Asset Management LLC owned approximately 2.28% of MiMedx Group at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MDXG. Norges Bank purchased a new stake in shares of MiMedx Group during the 4th quarter valued at about $4,020,000. JPMorgan Chase & Co. increased its holdings in MiMedx Group by 133.1% during the fourth quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company’s stock valued at $6,668,000 after buying an additional 395,739 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in MiMedx Group by 484.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 362,481 shares of the company’s stock worth $3,487,000 after acquiring an additional 300,433 shares during the period. Renaissance Technologies LLC boosted its stake in shares of MiMedx Group by 18.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,804,557 shares of the company’s stock worth $17,360,000 after acquiring an additional 280,327 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of MiMedx Group by 15.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,802,364 shares of the company’s stock valued at $17,338,000 after acquiring an additional 238,075 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO William Frank Iv Hulse sold 81,446 shares of MiMedx Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.80, for a total value of $635,278.80. Following the completion of the transaction, the chief accounting officer now owns 494,774 shares in the company, valued at approximately $3,859,237.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $32,396.34. Following the sale, the insider now owns 310,836 shares in the company, valued at approximately $2,452,496.04. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,018 shares of company stock worth $1,130,312 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com downgraded MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of MiMedx Group in a report on Thursday, February 27th.

MiMedx Group Price Performance

NASDAQ:MDXG opened at $6.91 on Monday. The stock has a market cap of $1.02 billion, a PE ratio of 12.56 and a beta of 1.74. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10. The business’s 50-day simple moving average is $7.53 and its two-hundred day simple moving average is $8.07. MiMedx Group, Inc. has a 52 week low of $5.47 and a 52 week high of $10.14.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. The company had revenue of $92.91 million for the quarter, compared to analysts’ expectations of $89.42 million. As a group, analysts forecast that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

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.