MiMedx Group (NASDAQ:MDXG) Stock Rating Upgraded by StockNews.com

MiMedx Group (NASDAQ:MDXG) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Several other brokerages have also weighed in on MDXG. Craig Hallum cut their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price target on shares of MiMedx Group 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Price Performance

Shares of NASDAQ MDXG opened at $6.93 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.22 and a current ratio of 3.85. MiMedx Group has a fifty-two week low of $5.47 and a fifty-two week high of $9.27. The firm has a market capitalization of $1.02 billion, a PE ratio of 12.60 and a beta of 1.97. The stock’s 50-day simple moving average is $6.06 and its 200-day simple moving average is $6.67.

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 the consensus estimate of $0.08. MiMedx Group had a return on equity of 27.28% and a net margin of 23.86%. The business had revenue of $87.21 million for the quarter, compared to analyst estimates of $88.44 million. As a group, equities research analysts forecast that MiMedx Group will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of MiMedx Group by 6.3% in the 3rd quarter. Principal Financial Group Inc. now owns 55,495 shares of the company’s stock valued at $328,000 after purchasing an additional 3,292 shares during the last quarter. Cannon Global Investment Management LLC grew its stake in shares of MiMedx Group by 47.1% in the 3rd quarter. Cannon Global Investment Management LLC now owns 25,000 shares of the company’s stock valued at $148,000 after purchasing an additional 8,000 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of MiMedx Group by 299.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock valued at $6,074,000 after purchasing an additional 770,744 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of MiMedx Group by 88.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 24,599 shares of the company’s stock valued at $145,000 after purchasing an additional 11,557 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new position in shares of MiMedx Group in the 3rd quarter valued at approximately $137,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.