MiMedx Group (MDXG) Shares Gap Up to $9.05

MiMedx Group Inc (NASDAQ:MDXG) shares gapped up prior to trading on Wednesday . The stock had previously closed at $8.91, but opened at $9.05. MiMedx Group shares last traded at $9.05, with a volume of 10304836 shares trading hands.

MDXG has been the topic of a number of research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a report on Friday, December 1st. Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Lake Street Capital set a $12.00 price objective on MiMedx Group and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC lowered MiMedx Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, BidaskClub downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $15.50.

The company has a market capitalization of $1,000.00, a P/E ratio of 30.17, a P/E/G ratio of 1.88 and a beta of 1.08.

MiMedx Group announced that its Board of Directors has approved a share repurchase program on Wednesday, December 13th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its stake in shares of MiMedx Group by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after buying an additional 600 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of MiMedx Group in the third quarter worth about $119,000. BlueCrest Capital Management Ltd purchased a new stake in shares of MiMedx Group in the fourth quarter worth about $126,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of MiMedx Group in the second quarter worth about $157,000. Finally, PVG Asset Management Corp purchased a new stake in shares of MiMedx Group in the third quarter worth about $127,000. Hedge funds and other institutional investors own 71.15% of the company’s stock.

TRADEMARK VIOLATION WARNING: “MiMedx Group (MDXG) Shares Gap Up to $9.05” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/21/mimedx-group-mdxg-shares-gap-up-to-9-05.html.

About MiMedx Group

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.

Receive News & Ratings for MiMedx Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiMedx Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply