Craig Hallum Issues Pessimistic Forecast for MiMedx Group (NASDAQ:MDXG) Stock Price

MiMedx Group (NASDAQ:MDXG) had its price objective cut by Craig Hallum from $10.00 to $7.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 105.28% from the company’s current price.

Several other analysts have also recently commented on MDXG. Cantor Fitzgerald reduced their price objective on shares of MiMedx Group from $12.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Citizens Jmp started coverage on shares of MiMedx Group in a research note on Monday, February 23rd. They issued a “market outperform” rating and a $10.00 price objective for the company. Lake Street Capital reduced their price objective on shares of MiMedx Group from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of MiMedx Group in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, MiMedx Group has an average rating of “Moderate Buy” and a consensus target price of $9.17.

MiMedx Group Stock Down 0.6%

Shares of NASDAQ:MDXG opened at $3.41 on Friday. The company has a market cap of $506.62 million, a price-to-earnings ratio of 10.66 and a beta of 1.65. The firm’s 50-day simple moving average is $4.46 and its 200-day simple moving average is $5.85. The company has a quick ratio of 3.92, a current ratio of 4.32 and a debt-to-equity ratio of 0.06. MiMedx Group has a fifty-two week low of $3.31 and a fifty-two week high of $7.99.

MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. MiMedx Group had a net margin of 11.60% and a return on equity of 29.37%. The business had revenue of $118.10 million for the quarter, compared to the consensus estimate of $106.78 million. As a group, equities research analysts predict that MiMedx Group will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On MiMedx Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC raised its position in MiMedx Group by 89.5% during the third quarter. First Light Asset Management LLC now owns 3,652,952 shares of the company’s stock worth $25,498,000 after acquiring an additional 1,725,458 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in MiMedx Group during the third quarter worth about $1,759,000. SG Americas Securities LLC raised its position in MiMedx Group by 419.3% during the third 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. Allspring Global Investments Holdings LLC raised its position in MiMedx Group by 433.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 289,199 shares of the company’s stock worth $1,958,000 after acquiring an additional 234,958 shares during the last quarter. Finally, CWM LLC raised its position in MiMedx Group by 248.0% during the third quarter. CWM LLC now owns 16,904 shares of the company’s stock worth $118,000 after acquiring an additional 12,047 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Company Profile

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.