StockNews.com Downgrades MiMedx Group (NASDAQ:MDXG) to Buy

StockNews.com cut shares of MiMedx Group (NASDAQ:MDXG) from a strong-buy rating to a buy rating in a research note released on Friday.

A number of other equities analysts have also recently weighed in on the company. Mizuho raised their price objective on MiMedx Group from $13.00 to $14.00 and gave the company a buy rating in a report on Friday, March 1st. Lake Street Capital started coverage on shares of MiMedx Group in a research note on Thursday, March 7th. They issued a buy rating and a $12.00 price objective for the company. Finally, HC Wainwright restated a buy rating and set a $11.00 price target on shares of MiMedx Group in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $12.25.

MiMedx Group Stock Performance

Shares of MDXG opened at $7.13 on Friday. The stock’s 50-day simple moving average is $7.35 and its 200 day simple moving average is $7.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.29. MiMedx Group has a 52-week low of $5.47 and a 52-week high of $9.27. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 16.20 and a beta of 1.44.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). The company had revenue of $86.83 million during the quarter, compared to the consensus estimate of $85.58 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. Research analysts forecast that MiMedx Group will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Ricci S. Whitlow sold 15,271 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total transaction of $122,320.71. Following the sale, the chief operating officer now owns 401,050 shares of the company’s stock, valued at $3,212,410.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Ricci S. Whitlow sold 15,271 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total value of $122,320.71. Following the transaction, the chief operating officer now directly owns 401,050 shares of the company’s stock, valued at approximately $3,212,410.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William Frank Iv Hulse sold 20,381 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total transaction of $162,028.95. Following the sale, the chief accounting officer now directly owns 479,959 shares in the company, valued at approximately $3,815,674.05. The disclosure for this sale can be found here. Insiders have sold a total of 51,145 shares of company stock valued at $409,378 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On MiMedx Group

Large investors have recently made changes to their positions in the business. Swiss National Bank increased its holdings in MiMedx Group by 36.4% in the 3rd quarter. Swiss National Bank now owns 254,200 shares of the company’s stock valued at $1,853,000 after acquiring an additional 67,900 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of MiMedx Group by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock worth $46,927,000 after buying an additional 250,812 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of MiMedx Group during the 4th quarter valued at about $3,118,000. Cannell Capital LLC lifted its holdings in shares of MiMedx Group by 106.7% in the 3rd quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock valued at $16,576,000 after acquiring an additional 1,173,506 shares during the last quarter. Finally, Algert Global LLC purchased a new position in MiMedx Group in the third quarter worth about $570,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

MiMedx Group Company 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.