Connor Clark & Lunn Investment Management Ltd. Trims Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) by 60.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,995 shares of the company's stock after selling 164,405 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of MiMedx Group worth $1,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MDXG. Disciplined Growth Investors Inc. MN lifted its stake in MiMedx Group by 0.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 355,387 shares of the company's stock worth $2,100,000 after acquiring an additional 2,737 shares during the period. SkyView Investment Advisors LLC lifted its position in shares of MiMedx Group by 30.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company's stock worth $77,000 after purchasing an additional 3,000 shares during the period. Principal Financial Group Inc. boosted its stake in shares of MiMedx Group by 6.3% during the third quarter. Principal Financial Group Inc. now owns 55,495 shares of the company's stock valued at $328,000 after purchasing an additional 3,292 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in 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 valued at $4,849,000 after buying an additional 3,300 shares during the period. Finally, Orion Capital Management LLC raised its stake in MiMedx Group by 46.3% in the third quarter. Orion Capital Management LLC now owns 11,700 shares of the company's stock worth $69,000 after buying an additional 3,700 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Remove Ads

MiMedx Group Stock Up 2.0 %

Shares of NASDAQ:MDXG traded up $0.16 during trading on Monday, reaching $8.10. The stock had a trading volume of 465,618 shares, compared to its average volume of 693,587. The firm's 50-day simple moving average is $8.37 and its 200 day simple moving average is $7.87. 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 one year low of $5.47 and a one year high of $10.14. The company has a market capitalization of $1.19 billion, a P/E ratio of 14.73 and a beta of 1.97.

MiMedx Group (NASDAQ:MDXG - Get Free Report) 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. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. The business had revenue of $92.91 million for the quarter, compared to analyst estimates of $89.42 million. As a group, research analysts expect that MiMedx Group, Inc. will post 0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at MiMedx Group

In other news, insider Kimberly Maersk-Moller sold 4,106 shares of MiMedx Group stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total transaction of $32,396.34. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO William Frank Iv Hulse sold 81,446 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $7.80, for a total value of $635,278.80. Following the completion of the transaction, the chief accounting officer now directly owns 494,774 shares in the company, valued at approximately $3,859,237.20. The trade was a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,018 shares of company stock valued at $1,130,312 in the last ninety days. Corporate insiders own 1.30% of the company's stock.

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.