MiMedx Group (NASDAQ:MDXG) Shares Gap Up to $6.70

MiMedx Group, Inc. (NASDAQ:MDXG)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $6.70, but opened at $6.93. MiMedx Group shares last traded at $6.85, with a volume of 48,746 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDXG. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of MiMedx Group in a research report on Wednesday, May 1st. Cantor Fitzgerald started coverage on shares of MiMedx Group in a research report on Tuesday. They set an “overweight” rating and a $11.00 price objective for the company. StockNews.com lowered shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Lake Street Capital assumed coverage on MiMedx Group in a report on Thursday, March 7th. They set a “buy” rating and a $12.00 price target for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Stock Up 0.6 %

The firm’s 50 day moving average price is $7.17 and its two-hundred day moving average price is $7.62. The company has a market cap of $1.01 billion, a P/E ratio of 15.50 and a beta of 1.99. 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 (NASDAQ:MDXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $84.71 million during the quarter, compared to analyst estimates of $79.36 million. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. Equities research analysts anticipate that MiMedx Group, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Trading of MiMedx Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Calamos Advisors LLC bought a new stake in MiMedx Group during the 4th quarter valued at $3,118,000. 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 acquiring an additional 250,812 shares in the last quarter. Cannell Capital LLC grew its stake 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 worth $16,576,000 after acquiring an additional 1,173,506 shares in the last quarter. Scotia Capital Inc. bought a new stake in shares of MiMedx Group in the 3rd quarter worth $130,000. Finally, Hillsdale Investment Management Inc. grew its stake in shares of MiMedx Group by 69.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock worth $3,928,000 after acquiring an additional 183,141 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

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.