Isthmus Partners LLC Raises Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Isthmus Partners LLC raised its position in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 30.4% during the second quarter, HoldingsChannel reports. The fund owned 393,214 shares of the company’s stock after acquiring an additional 91,714 shares during the quarter. Isthmus Partners LLC’s holdings in MiMedx Group were worth $27,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MDXG. Cannell Capital LLC lifted its stake in MiMedx Group by 9.1% in the fourth quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock worth $21,758,000 after purchasing an additional 207,207 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in MiMedx Group by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock worth $9,947,000 after buying an additional 57,704 shares during the period. Russell Investments Group Ltd. lifted its holdings in MiMedx Group by 5.0% during the 1st quarter. Russell Investments Group Ltd. now owns 551,546 shares of the company’s stock valued at $4,247,000 after buying an additional 26,487 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in MiMedx Group by 8.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 486,500 shares of the company’s stock worth $3,746,000 after acquiring an additional 38,600 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of MiMedx Group by 9.4% during the second quarter. Bank of New York Mellon Corp now owns 409,344 shares of the company’s stock worth $2,837,000 after acquiring an additional 35,107 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

MiMedx Group Stock Performance

Shares of NASDAQ:MDXG traded down $0.23 during trading on Friday, hitting $6.15. The stock had a trading volume of 461,505 shares, compared to its average volume of 757,823. The stock has a 50-day simple moving average of $6.81 and a two-hundred day simple moving average of $7.16. The stock has a market capitalization of $907.76 million, a price-to-earnings ratio of 13.98 and a beta of 1.98. MiMedx Group, Inc. has a 12-month low of $5.57 and a 12-month high of $9.27. The company has a quick ratio of 3.22, a current ratio of 3.85 and a debt-to-equity ratio of 0.11.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MDXG shares. Craig Hallum dropped their price target on MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. StockNews.com upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of MiMedx Group in a research note on Thursday, August 1st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.00.

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.