Abdiel Capital Advisors Lp Lowers stake in MiMedx Group Inc (MDXG)

MiMedx Group Inc (MDXG) : Abdiel Capital Advisors Lp reduced its stake in MiMedx Group Inc by 91.92% during the most recent quarter end. The investment management company now holds a total of 54,312 shares of MiMedx Group Inc which is valued at $366,063 after selling 617,788 shares in MiMedx Group Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.MiMedx Group Inc makes up approximately 0.18% of Abdiel Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Homrich Berg reduced its stake in MDXG by selling 5,000 shares or 22.35% in the most recent quarter. The Hedge Fund company now holds 17,367 shares of MDXG which is valued at $117,054. MiMedx Group Inc makes up approx 0.01% of Homrich Berg’s portfolio.Blackrock Fund Advisors reduced its stake in MDXG by selling 157,106 shares or 2.44% in the most recent quarter. The Hedge Fund company now holds 6,282,612 shares of MDXG which is valued at $42.3 Million. MiMedx Group Inc makes up approx 0.01% of Blackrock Fund Advisors’s portfolio.California Public Employees Retirement System reduced its stake in MDXG by selling 55,500 shares or 52.61% in the most recent quarter. The Hedge Fund company now holds 50,000 shares of MDXG which is valued at $354,500.

MiMedx Group Inc opened for trading at $6.94 and hit $7.01 on the upside on Friday, eventually ending the session at $7.01, with a gain of 2.19% or 0.15 points. The heightened volatility saw the trading volume jump to 8,13,228 shares. Company has a market cap of $767,931 M.

On the company’s financial health, MiMedx Group Inc reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $0.06. The company had revenue of $51.80 million for the quarter, compared to analysts expectations of $51.53 million. The company’s revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on MiMedx Group Inc. Shares were Downgraded by First Analysis Sec on Apr 27, 2016 to ” Equal-Weight” and Lowered the Price Target to $ 9 from a previous price target of $14 .Shares were Reiterated by Needham on Apr 12, 2016 to “Strong Buy” and Lowered the Price Target to $ 12 from a previous price target of $13 .Shares were Reiterated by Needham on Apr 11, 2016 to “Strong Buy” and Lowered the Price Target to $ 12 from a previous price target of $13 .

MiMedx Group Inc. (MiMedx) is an integrated developer manufacturer and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane. The Company’s biomaterial platform technologies include AmnioFix and EpiFix its tissue technologies processed from human amniotic membrane that is derived from donated placentas. Through its donor program mothers delivering full-term Cesarean section births can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. MiMedx processes the human amniotic membrane utilizing its Purion Process to produce an implant which is referred as an allograft. MiMedx is the supplier of amniotic tissue having supplied over 350000 allografts for application in the Wound Care Surgical Sports Medicine Ophthalmic and Dental sectors of healthcare. Its CollaFix technology combines a means of creating fibers from soluble collagen and a cross-linking process.

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