Proficio Capital Partners LLC Takes Position in MiMedx Group, Inc. (NASDAQ:MDXG)

Proficio Capital Partners LLC purchased a new stake in shares of MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,089 shares of the company's stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MDXG. Van ECK Associates Corp bought a new stake in MiMedx Group during the 4th quarter worth about $40,000. Point72 DIFC Ltd raised its stake in shares of MiMedx Group by 127.6% during the third quarter. Point72 DIFC Ltd now owns 7,626 shares of the company's stock worth $45,000 after buying an additional 4,275 shares during the last quarter. Savant Capital LLC bought a new stake in shares of MiMedx Group during the fourth quarter worth approximately $100,000. Entropy Technologies LP acquired a new position in MiMedx Group in the third quarter valued at approximately $64,000. Finally, Orion Capital Management LLC raised its position in shares of MiMedx Group by 46.3% during the 3rd quarter. Orion Capital Management LLC now owns 11,700 shares of the company's stock valued at $69,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Upgrades and Downgrades

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

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MiMedx Group Stock Performance

MDXG stock traded down $0.21 during midday trading on Thursday, reaching $7.89. 421,287 shares of the company were exchanged, compared to its average volume of 705,876. MiMedx Group, Inc. has a one year low of $5.47 and a one year high of $10.14. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 14.35 and a beta of 1.97. The business has a 50-day moving average price of $8.48 and a two-hundred day moving average price of $7.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, meeting analysts' consensus estimates 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 research analysts forecast that MiMedx Group, Inc. will post 0.3 EPS for the current year.

Insider Activity at MiMedx Group

In related news, CAO William Frank Iv Hulse sold 81,446 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.80, for a total transaction of $635,278.80. Following the completion of the sale, the chief accounting officer now owns 494,774 shares of the company's stock, valued at $3,859,237.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

MiMedx Group Company 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.