Millrace Asset Group Inc. Cuts Holdings in MiMedx Group, Inc. (NASDAQ:MDXG)

Millrace Asset Group Inc. decreased its holdings in MiMedx Group, Inc. (NASDAQ:MDXG) by 20.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,042 shares of the company’s stock after selling 42,296 shares during the period. Millrace Asset Group Inc. owned about 0.11% of MiMedx Group worth $981,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. purchased a new position in MiMedx Group in the 3rd quarter worth about $30,000. Point72 Asset Management L.P. purchased a new stake in shares of MiMedx Group during the 2nd quarter valued at about $40,000. Entropy Technologies LP bought a new stake in shares of MiMedx Group in the third quarter worth approximately $64,000. Quest Partners LLC purchased a new position in shares of MiMedx Group during the second quarter valued at approximately $81,000. Finally, Aigen Investment Management LP bought a new position in MiMedx Group during the third quarter valued at approximately $83,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Craig Hallum cut their price objective on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of MiMedx Group in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $12.00.

MiMedx Group Price Performance

Shares of MiMedx Group stock opened at $9.09 on Tuesday. The stock has a market cap of $1.34 billion, a P/E ratio of 16.53 and a beta of 1.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. The stock’s fifty day moving average is $6.66 and its 200 day moving average is $6.85. MiMedx Group, Inc. has a one year low of $5.47 and a one year high of $9.49.

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.