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

MiMedx Group (NASDAQ:MDXG) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group Stock Performance

MDXG stock opened at $6.68 on Wednesday. The company has a 50 day moving average price of $7.72 and a 200 day moving average price of $8.00. MiMedx Group has a fifty-two week low of $5.47 and a fifty-two week high of $10.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53. The stock has a market capitalization of $983.67 million, a PE ratio of 12.14 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $92.91 million during the quarter, compared to the consensus estimate of $89.42 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. Analysts forecast that MiMedx Group will post 0.3 EPS for the current year.

Insider Activity at MiMedx Group

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position in shares of MiMedx Group by 133.6% during the third quarter. Jane Street Group LLC now owns 305,652 shares of the company’s stock worth $1,806,000 after purchasing an additional 174,797 shares during the period. JPMorgan Chase & Co. lifted its stake in MiMedx Group by 265.4% in the third quarter. JPMorgan Chase & Co. now owns 297,367 shares of the company’s stock valued at $1,757,000 after buying an additional 215,995 shares in the last quarter. Barclays PLC boosted its holdings in shares of MiMedx Group by 163.9% in the third quarter. Barclays PLC now owns 262,449 shares of the company’s stock valued at $1,550,000 after buying an additional 163,005 shares during the period. SG Americas Securities LLC increased its position in shares of MiMedx Group by 79.9% during the fourth quarter. SG Americas Securities LLC now owns 83,385 shares of the company’s stock worth $802,000 after acquiring an additional 37,031 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of MiMedx Group by 6.3% during the third 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 in the last quarter. 79.15% of the stock is currently owned by institutional investors.

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.