Prudential Financial Inc. Sells 115,900 Shares of MiMedx Group, Inc. (NASDAQ:MDXG)

Prudential Financial Inc. cut its holdings in MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) by 24.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 349,570 shares of the company's stock after selling 115,900 shares during the period. Prudential Financial Inc. owned approximately 0.24% of MiMedx Group worth $3,363,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MDXG. LPL Financial LLC boosted its holdings in MiMedx Group by 213.8% in the 4th quarter. LPL Financial LLC now owns 143,845 shares of the company's stock valued at $1,384,000 after purchasing an additional 98,004 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of MiMedx Group in the fourth quarter valued at approximately $202,000. Intellus Advisors LLC bought a new stake in shares of MiMedx Group in the fourth quarter valued at approximately $174,000. American Century Companies Inc. increased its stake in MiMedx Group by 28.2% during the 4th quarter. American Century Companies Inc. now owns 199,069 shares of the company's stock worth $1,915,000 after acquiring an additional 43,795 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in MiMedx Group by 17.7% during the 4th quarter. Teacher Retirement System of Texas now owns 34,862 shares of the company's stock worth $335,000 after acquiring an additional 5,250 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Price Performance

Shares of NASDAQ:MDXG traded down $0.25 during trading on Friday, hitting $7.06. 572,197 shares of the company were exchanged, compared to its average volume of 696,209. MiMedx Group, Inc. has a 1-year low of $5.47 and a 1-year high of $10.14. The company has a market capitalization of $1.04 billion, a P/E ratio of 12.84 and a beta of 1.74. 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 business's 50 day moving average is $8.11 and its 200-day moving average is $7.97.

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 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 company had revenue of $92.91 million for the quarter, compared to analysts' expectations of $89.42 million. Equities analysts forecast that MiMedx Group, Inc. will post 0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of MiMedx Group from a "buy" rating to a "strong-buy" rating in a research note on Friday. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 price target on shares of MiMedx Group in a research report on Thursday, February 27th.

Insider Buying and Selling

In related news, CAO William Frank Iv Hulse sold 54,596 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $430,762.44. Following the transaction, the chief accounting officer now owns 440,178 shares in the company, valued at $3,473,004.42. The trade was a 11.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of MiMedx Group 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 completion of the transaction, the insider now directly owns 310,836 shares of the company's stock, valued at approximately $2,452,496.04. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,018 shares of company stock valued at $1,130,312 over the last 90 days. 1.30% of the stock is owned by insiders.

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.