Nicholas Hoffman & Company LLC. lowered its holdings in shares of MiMedx Group Inc (NASDAQ:MDXG) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,385 shares of the medical equipment provider’s stock after selling 20,000 shares during the quarter. MiMedx Group accounts for 0.7% of Nicholas Hoffman & Company LLC.’s portfolio, making the stock its 29th biggest holding. Nicholas Hoffman & Company LLC.’s holdings in MiMedx Group were worth $1,884,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in MiMedx Group during the 3rd quarter valued at $119,000. PVG Asset Management Corp bought a new stake in MiMedx Group during the 3rd quarter valued at $127,000. Ameritas Investment Partners Inc. raised its position in MiMedx Group by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock valued at $129,000 after purchasing an additional 600 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in MiMedx Group by 6,262.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,725 shares of the medical equipment provider’s stock valued at $151,000 after purchasing an additional 12,525 shares in the last quarter. Finally, Sapphire Star Partners LP bought a new stake in MiMedx Group during the 3rd quarter valued at $152,000. Institutional investors own 69.23% of the company’s stock.
MDXG has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 target price on shares of MiMedx Group in a research report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 target price on shares of MiMedx Group in a research report on Friday, November 24th. Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research report on Friday, December 8th. Lake Street Capital set a $18.00 target price on MiMedx Group and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, BidaskClub raised MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.00.
MiMedx Group declared that its board has approved a stock buyback program on Wednesday, December 13th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the medical equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
MiMedx Group Profile
MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.
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