Massachusetts Financial Services Co. MA Cuts Stock Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Massachusetts Financial Services Co. MA cut its stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 2.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 173,743 shares of the company’s stock after selling 5,189 shares during the period. Massachusetts Financial Services Co. MA’s holdings in MiMedx Group were worth $1,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MDXG. Geode Capital Management LLC grew its position in MiMedx Group by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock valued at $16,518,000 after acquiring an additional 44,254 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of MiMedx Group by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,435,397 shares of the company’s stock worth $8,483,000 after purchasing an additional 92,726 shares during the period. JPMorgan Chase & Co. increased its position in MiMedx Group by 133.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company’s stock worth $6,668,000 after purchasing an additional 395,739 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in MiMedx Group by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 504,007 shares of the company’s stock valued at $4,849,000 after buying an additional 3,300 shares during the period. Finally, Norges Bank purchased a new position in MiMedx Group in the fourth quarter valued at approximately $4,020,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of MiMedx Group in a research report on Thursday, February 27th. StockNews.com upgraded MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Friday, April 4th.

MiMedx Group Trading Down 3.2 %

MDXG opened at $6.86 on Wednesday. The firm’s 50 day moving average is $7.99 and its 200-day moving average is $7.97. MiMedx Group, Inc. has a 52-week low of $5.47 and a 52-week high of $10.14. 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 firm has a market capitalization of $1.01 billion, a P/E ratio of 12.47 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $92.91 million for the quarter, compared to the consensus estimate of $89.42 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. Analysts expect that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kimberly Maersk-Moller sold 4,106 shares of the company’s stock in a transaction dated 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 represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William Frank Iv Hulse sold 54,596 shares of MiMedx Group stock in a transaction dated 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 $3,473,004.42. This trade represents a 11.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,018 shares of company stock worth $1,130,312. 1.30% of the stock is currently 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.