MiMedx Group (NASDAQ:MDXG) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of MiMedx Group (NASDAQ:MDXG) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald restated an overweight rating and set a $11.00 target price on shares of MiMedx Group in a research report on Thursday, August 1st. Craig Hallum reduced their price target on MiMedx Group from $14.00 to $12.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $12.00.

MiMedx Group Stock Performance

NASDAQ:MDXG opened at $6.58 on Wednesday. The stock has a 50 day simple moving average of $6.83 and a 200 day simple moving average of $7.18. The stock has a market cap of $966.01 million, a P/E ratio of 14.95 and a beta of 1.98. MiMedx Group has a 1-year low of $5.57 and a 1-year high of $9.27. The company has a current ratio of 3.85, a quick ratio of 3.22 and a debt-to-equity ratio of 0.11.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $88.44 million. MiMedx Group had a return on equity of 34.24% and a net margin of 23.63%. Research analysts anticipate that MiMedx Group will post 0.26 earnings per share for the current year.

Institutional Trading of MiMedx Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Caxton Associates LP acquired a new position in MiMedx Group during the first quarter valued at approximately $1,018,000. Hillsdale Investment Management Inc. raised its holdings in shares of MiMedx Group by 69.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock worth $3,928,000 after buying an additional 183,141 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MiMedx Group by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,978 shares of the company’s stock worth $254,000 after buying an additional 3,806 shares during the last quarter. Jump Financial LLC boosted its stake in MiMedx Group by 8.7% in the fourth quarter. Jump Financial LLC now owns 97,260 shares of the company’s stock valued at $853,000 after buying an additional 7,753 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in MiMedx Group by 1,577.5% in the fourth quarter. Russell Investments Group Ltd. now owns 525,059 shares of the company’s stock valued at $4,605,000 after acquiring an additional 493,759 shares during 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.