Cubist Systematic Strategies LLC Buys 119,399 Shares of MiMedx Group, Inc. (NASDAQ:MDXG)

Cubist Systematic Strategies LLC lifted its stake in MiMedx Group, Inc. (NASDAQ:MDXG) by 2,428.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,316 shares of the company’s stock after buying an additional 119,399 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.08% of MiMedx Group worth $1,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MDXG. JPMorgan Chase & Co. grew its position in shares of MiMedx Group by 265.4% during the third quarter. JPMorgan Chase & Co. now owns 297,367 shares of the company’s stock worth $1,757,000 after purchasing an additional 215,995 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of MiMedx Group by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,802,364 shares of the company’s stock worth $17,338,000 after purchasing an additional 238,075 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of MiMedx Group during the fourth quarter worth about $887,000. SG Americas Securities LLC grew its position in shares of MiMedx Group by 79.9% during the fourth quarter. SG Americas Securities LLC now owns 83,385 shares of the company’s stock worth $802,000 after purchasing an additional 37,031 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of MiMedx Group by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 504,007 shares of the company’s stock worth $4,849,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

MDXG has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 target price on shares of MiMedx Group in a research report on Thursday, February 27th. StockNews.com cut MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 9th.

MiMedx Group Stock Performance

NASDAQ MDXG opened at $7.17 on Wednesday. The stock has a market capitalization of $1.06 billion, a PE ratio of 13.04 and a beta of 1.85. The business has a 50 day simple moving average of $7.25 and a two-hundred day simple moving average of $8.15. 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, Inc. has a 1-year low of $5.47 and a 1-year high of $10.14.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $88.21 million during the quarter, compared to analysts’ expectations of $86.32 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. On average, research analysts predict that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling at MiMedx Group

In related news, CEO Joseph H. Capper bought 200,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was purchased at an average price of $6.34 per share, for a total transaction of $1,268,000.00. Following the acquisition, the chief executive officer now owns 529,530 shares in the company, valued at $3,357,220.20. This trade represents a 60.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO William Frank Iv Hulse sold 54,596 shares of MiMedx Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $430,762.44. Following the completion of the transaction, the chief accounting officer now owns 440,178 shares of the company’s stock, valued at approximately $3,473,004.42. This trade represents a 11.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,018 shares of company stock worth $1,130,312 in the last quarter. 1.30% of the stock is owned by corporate insiders.

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.