Lazard Asset Management LLC Reduces Stake in MiMedx Group, Inc. (NASDAQ:MDXG)

Lazard Asset Management LLC reduced its stake in MiMedx Group, Inc. (NASDAQ:MDXG) by 81.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,405 shares of the company’s stock after selling 27,390 shares during the quarter. Lazard Asset Management LLC’s holdings in MiMedx Group were worth $61,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in MDXG. IMG Wealth Management Inc. bought a new stake in shares of MiMedx Group in the fourth quarter worth about $28,000. Van ECK Associates Corp bought a new stake in shares of MiMedx Group during the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC grew its holdings in shares of MiMedx Group by 77.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock worth $63,000 after purchasing an additional 2,837 shares during the last quarter. AlphaQuest LLC bought a new position in MiMedx Group in the fourth quarter worth approximately $88,000. Finally, Savant Capital LLC purchased a new position in shares of MiMedx Group during the fourth quarter valued at $100,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

MiMedx Group Stock Down 1.3%

Shares of NASDAQ:MDXG opened at $6.63 on Monday. The business has a fifty day moving average of $7.09 and a two-hundred day moving average of $8.17. 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 stock has a market cap of $979.26 million, a P/E ratio of 12.05 and a beta of 1.85. MiMedx Group, Inc. has a 52-week low of $5.47 and a 52-week high of $10.14.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $88.21 million for the quarter, compared to the consensus estimate of $86.32 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. On average, research analysts expect that MiMedx Group, Inc. will post 0.3 earnings per share for the current year.

Insider Activity at MiMedx Group

In related news, CAO William Frank Iv Hulse sold 81,446 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $7.80, for a total transaction of $635,278.80. Following the sale, the chief accounting officer now owns 494,774 shares in the company, valued at approximately $3,859,237.20. This trade represents a 14.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the transaction, the insider now directly owns 310,836 shares in the company, valued at approximately $2,452,496.04. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,018 shares of company stock worth $1,130,312 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MDXG has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 target price on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group 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.