Cannell Capital LLC Makes New Investment in MiMedx Group, Inc $MDXG

Cannell Capital LLC bought a new position in MiMedx Group, Inc (NASDAQ:MDXG) in the 2nd quarter, Holdings Channel.com reports. The firm bought 1,870,436 shares of the company’s stock, valued at approximately $7,201,179. MiMedx Group makes up 0.0% of Cannell Capital LLC’s portfolio, making the stock its 6th biggest holding.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. purchased a new position in MiMedx Group in the 2nd quarter worth approximately $46,795,000. Vanguard Group Inc. raised its stake in shares of MiMedx Group by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 7,184,262 shares of the company’s stock valued at $48,637,000 after purchasing an additional 382,623 shares during the period. Paradigm Capital Management Inc. NY purchased a new stake in shares of MiMedx Group during the second quarter valued at approximately $15,681,000. State Street Corp lifted its position in shares of MiMedx Group by 6.1% during the fourth quarter. State Street Corp now owns 3,813,796 shares of the company’s stock worth $25,819,000 after purchasing an additional 219,190 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of MiMedx Group by 22.4% during the first quarter. Renaissance Technologies LLC now owns 3,019,871 shares of the company’s stock worth $11,928,000 after purchasing an additional 552,806 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Stock Performance

Shares of MDXG stock opened at $4.50 on Friday. The stock has a market capitalization of $655.92 million, a price-to-earnings ratio of 112.53 and a beta of 1.45. MiMedx Group, Inc has a one year low of $3.03 and a one year high of $7.97. The company’s 50-day simple moving average is $4.18 and its 200-day simple moving average is $4.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.79 and a current ratio of 5.33.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%.The firm had revenue of $64.36 million during the quarter, compared to analyst estimates of $63.46 million. Equities analysts anticipate that MiMedx Group, Inc will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MDXG. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of MiMedx Group in a report on Monday, August 17th. Seaport Research Partners lowered shares of MiMedx Group to a “neutral” rating in a report on Monday, August 17th. Craig Hallum upped their price objective on shares of MiMedx Group from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of MiMedx Group in a research note on Thursday, August 13th. Finally, Raymond James Financial set a $8.00 target price on MiMedx Group in a research report on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.57.

About MiMedx Group

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.