MiMedx Group, Inc. (NASDAQ:MDXG) Shares Sold by Richmond Brothers Inc.

Richmond Brothers Inc. reduced its position in MiMedx Group, Inc. (NASDAQ:MDXG) by 75.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,514 shares of the company’s stock after selling 592,221 shares during the quarter. MiMedx Group comprises approximately 1.2% of Richmond Brothers Inc.’s investment portfolio, making the stock its 20th largest position. Richmond Brothers Inc. owned about 0.13% of MiMedx Group worth $1,833,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in MiMedx Group in the 4th quarter valued at $28,000. Van ECK Associates Corp purchased a new stake in MiMedx Group in the 4th quarter valued at $40,000. Point72 DIFC Ltd grew its holdings in MiMedx Group by 127.6% in the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after buying an additional 4,275 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of MiMedx Group during the 4th quarter worth $88,000. Finally, Koss Olinger Consulting LLC purchased a new position in shares of MiMedx Group during the 4th quarter worth $100,000. 79.15% of the stock is owned by institutional investors and hedge funds.

MiMedx Group Stock Performance

NASDAQ MDXG opened at $7.92 on Wednesday. The stock has a market cap of $1.17 billion, a PE ratio of 14.40 and a beta of 1.97. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. MiMedx Group, Inc. has a twelve month low of $5.47 and a twelve month high of $10.14. The stock has a fifty day simple moving average of $8.42 and a 200-day simple moving average of $7.84.

MiMedx Group (NASDAQ:MDXG) last posted its 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. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. The firm had revenue of $92.91 million for the quarter, compared to analyst estimates of $89.42 million. Equities analysts anticipate that MiMedx Group, Inc. will post 0.3 earnings per share for the current year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of MiMedx Group in a report on Thursday, February 27th.

Insider Buying and Selling

In related news, CAO William Frank Iv Hulse sold 54,596 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $7.89, for a total transaction of $430,762.44. Following the transaction, the chief accounting officer now owns 440,178 shares of the company’s stock, valued at approximately $3,473,004.42. This represents a 11.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the transaction, the insider now directly owns 310,836 shares in the company, valued at approximately $2,452,496.04. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,259 shares of company stock valued at $1,116,170. Corporate insiders own 1.30% of the company’s stock.

MiMedx Group Profile

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.