Cannell Capital LLC Invests $7.20 Million in MiMedx Group, Inc $MDXG

Cannell Capital LLC acquired a new stake in MiMedx Group, Inc (NASDAQ:MDXG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,870,436 shares of the company’s stock, valued at approximately $7,201,179. MiMedx Group accounts for 0.0% of Cannell Capital LLC’s investment portfolio, making the stock its 6th largest position. Cannell Capital LLC owned 1.28% of MiMedx Group as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MDXG. Corient Private Wealth LP purchased a new position in MiMedx Group during the second quarter worth about $77,000. Punch & Associates Investment Management Inc. purchased a new stake in MiMedx Group in the 2nd quarter valued at about $7,924,000. Pillsbury Lake Capital LLC purchased a new stake in MiMedx Group in the 2nd quarter valued at about $828,670. Bank of America Corp DE acquired a new position in shares of MiMedx Group during the 2nd quarter valued at about $2,170,000. Finally, Hsbc Holdings PLC acquired a new position in shares of MiMedx Group during the 2nd quarter valued at about $186,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Stock Down 0.2%

MDXG opened at $4.50 on Friday. The firm has a 50 day moving average price of $4.18 and a 200 day moving average price of $4.09. The company has a market cap of $655.92 million, a PE ratio of 112.53 and a beta of 1.45. MiMedx Group, Inc has a 1 year low of $3.03 and a 1 year high of $7.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.79 and a current ratio of 5.33.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). MiMedx Group had a net margin of 1.76% and a return on equity of 12.09%. The firm had revenue of $64.36 million for the quarter, compared to analysts’ expectations of $63.46 million. Sell-side analysts expect that MiMedx Group, Inc will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

MDXG has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $8.00 target price on shares of MiMedx Group in a research report on Monday, August 17th. Raymond James Financial set a $8.00 price target on shares of MiMedx Group in a research report on Monday, August 17th. Seaport Research Partners downgraded shares of MiMedx Group to a “neutral” rating in a research note on Monday, August 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of MiMedx Group in a report on Thursday, August 13th. Finally, Wall Street Zen raised shares of MiMedx Group from a “sell” rating to a “hold” rating in a research note on Saturday. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.57.

About MiMedx Group

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.