MiMedx Group (NASDAQ:MDXG) Reaches New 12-Month Low – What’s Next?

MiMedx Group, Inc. (NASDAQ:MDXG)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.55 and last traded at $5.55, with a volume of 42713 shares trading hands. The stock had previously closed at $5.60.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDXG. Craig Hallum decreased their target price on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of MiMedx Group in a report on Thursday, August 1st. Finally, StockNews.com upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Trading Down 0.2 %

The firm has a fifty day moving average of $6.28 and a two-hundred day moving average of $6.82. The company has a market cap of $825.11 million, a PE ratio of 12.73 and a beta of 1.97. 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 issued its earnings results on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. The firm had revenue of $87.21 million during the quarter, compared to analyst estimates of $88.44 million. As a group, sell-side analysts predict that MiMedx Group, Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On MiMedx Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MDXG. Caxton Associates LP bought a new position in shares of MiMedx Group in the first quarter worth $1,018,000. Victory Capital Management Inc. grew its holdings in MiMedx Group by 909.0% during the 2nd quarter. Victory Capital Management Inc. now owns 138,449 shares of the company’s stock valued at $959,000 after buying an additional 124,727 shares in the last quarter. Isthmus Partners LLC grew its holdings in MiMedx Group by 30.4% during the 2nd quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock valued at $27,000 after buying an additional 91,714 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MiMedx Group by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,978 shares of the company’s stock valued at $254,000 after buying an additional 3,806 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of MiMedx Group by 6.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock worth $28,879,000 after buying an additional 258,700 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.