MiMedx Group (NASDAQ:MDXG) Shares Gap Up Following Earnings Beat

MiMedx Group, Inc (NASDAQ:MDXG) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.19, but opened at $7.68. MiMedx Group shares last traded at $7.7590, with a volume of 1,114,995 shares traded.

The company reported ($0.03) EPS for the quarter. MiMedx Group had a return on equity of 28.35% and a net margin of 10.38%.The business had revenue of $67.69 million during the quarter.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen lowered shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. Cantor Fitzgerald raised their target price on MiMedx Group from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MiMedx Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in MiMedx Group in the third quarter worth about $84,000. State of Alaska Department of Revenue purchased a new position in MiMedx Group in the 3rd quarter worth approximately $54,000. SG Americas Securities LLC raised its holdings in MiMedx Group by 419.3% in the 3rd quarter. SG Americas Securities LLC now owns 161,960 shares of the company’s stock worth $1,130,000 after acquiring an additional 130,769 shares during the last quarter. HighMark Wealth Management LLC raised its holdings in MiMedx Group by 5.4% in the 3rd quarter. HighMark Wealth Management LLC now owns 55,878 shares of the company’s stock worth $390,000 after acquiring an additional 2,878 shares during the last quarter. Finally, CWM LLC raised its stake in shares of MiMedx Group by 248.0% in the third quarter. CWM LLC now owns 16,904 shares of the company’s stock worth $118,000 after purchasing an additional 12,047 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

MiMedx Group Stock Up 2.9%

The company has a 50 day moving average price of $6.98 and a two-hundred day moving average price of $6.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.39 and a quick ratio of 3.90. The stock has a market cap of $1.09 billion, a PE ratio of 27.41 and a beta of 1.73.

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.