Connor Clark & Lunn Investment Management Ltd. Sells 33,659 Shares of MiMedx Group, Inc. (NASDAQ:MDXG)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of MiMedx Group, Inc. (NASDAQ:MDXG) by 11.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,400 shares of the company’s stock after selling 33,659 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of MiMedx Group worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royce & Associates LP grew its holdings in MiMedx Group by 5.3% during the third quarter. Royce & Associates LP now owns 972,853 shares of the company’s stock valued at $5,750,000 after purchasing an additional 48,539 shares during the period. Victory Capital Management Inc. grew its stake in shares of MiMedx Group by 2.8% during the 3rd quarter. Victory Capital Management Inc. now owns 142,350 shares of the company’s stock valued at $841,000 after acquiring an additional 3,901 shares during the period. Aigen Investment Management LP bought a new position in shares of MiMedx Group during the 3rd quarter valued at approximately $83,000. Entropy Technologies LP bought a new stake in MiMedx Group during the 3rd quarter worth approximately $64,000. Finally, Principal Financial Group Inc. raised its stake in MiMedx Group by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 55,495 shares of the company’s stock worth $328,000 after acquiring an additional 3,292 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

MiMedx Group Stock Performance

Shares of NASDAQ MDXG opened at $9.09 on Tuesday. The company has a market cap of $1.34 billion, a P/E ratio of 16.53 and a beta of 1.94. MiMedx Group, Inc. has a 52-week low of $5.47 and a 52-week high of $9.49. 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 firm’s fifty day moving average is $6.66 and its two-hundred day moving average is $6.85.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MDXG. Craig Hallum reduced their price objective on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com cut MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of MiMedx Group in a research note on Thursday, August 1st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.00.

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.