Richmond Brothers Inc. Trims Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Richmond Brothers Inc. trimmed its position in MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) by 75.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 holdings, making the stock its 20th largest position. Richmond Brothers Inc. owned 0.13% of MiMedx Group worth $1,833,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in MiMedx Group by 265.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 297,367 shares of the company's stock valued at $1,757,000 after buying an additional 215,995 shares during the last quarter. Jane Street Group LLC boosted its position in shares of MiMedx Group by 133.6% in the third quarter. Jane Street Group LLC now owns 305,652 shares of the company's stock valued at $1,806,000 after acquiring an additional 174,797 shares during the period. Barclays PLC grew its stake in shares of MiMedx Group by 163.9% in the third quarter. Barclays PLC now owns 262,449 shares of the company's stock worth $1,550,000 after acquiring an additional 163,005 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in MiMedx Group by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,435,397 shares of the company's stock worth $8,483,000 after acquiring an additional 92,726 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in MiMedx Group during the 4th quarter valued at $887,000. 79.15% of the stock is owned by institutional investors.

Remove Ads

Insider Activity at MiMedx Group

In related news, CAO William Frank Iv Hulse sold 54,596 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total transaction of $430,762.44. Following the sale, the chief accounting officer now owns 440,178 shares in the company, valued at approximately $3,473,004.42. This trade represents a 11.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $32,396.34. Following the completion of the transaction, the insider now directly owns 310,836 shares of the company's stock, valued at $2,452,496.04. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,018 shares of company stock valued at $1,130,312. 1.30% of the stock is owned by corporate insiders.

MiMedx Group Trading Down 0.4 %

NASDAQ:MDXG traded down $0.03 during trading hours on Friday, hitting $7.94. 1,166,285 shares of the stock were exchanged, compared to its average volume of 694,251. The company has a market capitalization of $1.17 billion, a P/E ratio of 14.44 and a beta of 1.97. 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 company's 50 day moving average is $8.37 and its two-hundred day moving average is $7.86. MiMedx Group, Inc. has a twelve month low of $5.47 and a twelve month high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share for the quarter, meeting 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. On average, sell-side analysts anticipate that MiMedx Group, Inc. will post 0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price target on shares of MiMedx Group in a research note on Thursday, February 27th.

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.