Millennium Management LLC Increases Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Millennium Management LLC lifted its stake in MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) by 339.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 889,446 shares of the company's stock after purchasing an additional 687,267 shares during the period. Millennium Management LLC owned 0.60% of MiMedx Group worth $6,164,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MDXG. Headlands Technologies LLC purchased a new stake in MiMedx Group in the first quarter worth about $27,000. Isthmus Partners LLC lifted its stake in shares of MiMedx Group by 30.4% in the 2nd quarter. Isthmus Partners LLC now owns 393,214 shares of the company's stock valued at $27,000 after purchasing an additional 91,714 shares during the period. Quest Partners LLC bought a new stake in shares of MiMedx Group during the second quarter valued at approximately $81,000. Entropy Technologies LP bought a new stake in shares of MiMedx Group during the first quarter valued at approximately $99,000. Finally, Shell Asset Management Co. purchased a new stake in MiMedx Group in the first quarter worth $113,000. Institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MDXG. Craig Hallum dropped their target price on shares of MiMedx Group from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. StockNews.com raised shares of MiMedx Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $11.00 price objective on shares of MiMedx Group in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $12.00.

MiMedx Group Stock Up 3.6 %

MDXG stock traded up $0.20 during trading on Friday, hitting $5.71. 475,391 shares of the stock traded hands, compared to its average volume of 725,854. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.85 and a quick ratio of 3.22. The stock has a market cap of $838.29 million, a price-to-earnings ratio of 9.84 and a beta of 1.97. MiMedx Group, Inc. has a 1 year low of $5.47 and a 1 year high of $9.27. The firm's 50 day moving average is $6.22 and its two-hundred day moving average is $6.80.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $87.21 million during the quarter, compared to the consensus estimate of $88.44 million. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. On average, sell-side analysts anticipate that MiMedx Group, Inc. will post 0.26 EPS for the current year.

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.