MiMedx Group (NASDAQ:MDXG) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, January 5th.
A number of other equities analysts have also weighed in on MDXG. Lake Street Capital set a $18.00 price objective on MiMedx Group and gave the stock a “buy” rating in a research note on Thursday, December 14th. Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research note on Friday, December 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price target on shares of MiMedx Group in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.
Shares of MiMedx Group (NASDAQ MDXG) traded down $0.95 during trading hours on Friday, hitting $16.75. The stock had a trading volume of 2,131,863 shares, compared to its average volume of 2,020,000. The firm has a market capitalization of $1,860.00, a price-to-earnings ratio of 55.83, a PEG ratio of 2.33 and a beta of 0.88. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $18.25.
MiMedx Group announced that its board has initiated a stock buyback plan on Monday, October 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC raised its holdings in shares of MiMedx Group by 678.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock valued at $101,000 after buying an additional 5,900 shares during the period. Quantbot Technologies LP purchased a new stake in MiMedx Group during the 2nd quarter worth about $109,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in MiMedx Group during the 3rd quarter worth about $119,000. PVG Asset Management Corp purchased a new stake in MiMedx Group during the 3rd quarter worth about $127,000. Finally, Ameritas Investment Partners Inc. increased its holdings in MiMedx Group by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.
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MiMedx Group Company Profile
MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.
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