BidaskClub downgraded shares of MiMedx Group (NASDAQ:MDXG) from a hold rating to a sell rating in a report released on Friday, March 16th.
Several other equities analysts have also recently commented on the company. Zacks Investment Research cut MiMedx Group from a hold rating to a sell rating in a report on Friday, December 8th. Craig Hallum reiterated a buy rating on shares of MiMedx Group in a research note on Tuesday, February 27th. Piper Jaffray reiterated a buy rating and issued a $18.00 price objective on shares of MiMedx Group in a research note on Friday, December 1st. Needham & Company LLC lowered MiMedx Group from a strong-buy rating to a hold rating in a research note on Tuesday, February 20th. Finally, Lake Street Capital lowered MiMedx Group from a buy rating to a hold rating and set a $9.00 price target on the stock. in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. MiMedx Group has a consensus rating of Hold and a consensus target price of $14.75.
Shares of NASDAQ MDXG traded down $0.27 during trading hours on Friday, hitting $6.46. 2,179,492 shares of the company’s stock were exchanged, compared to its average volume of 2,713,623. The stock has a market capitalization of $747.27, a PE ratio of 53.83, a P/E/G ratio of 0.87 and a beta of 1.62. MiMedx Group has a 1-year low of $6.05 and a 1-year high of $18.25.
MiMedx Group declared that its board has authorized a share buyback plan 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new position in shares of MiMedx Group in the 4th quarter valued at $182,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in MiMedx Group during the 4th quarter worth $231,000. Disciplined Growth Investors Inc. MN raised its stake in MiMedx Group by 2.9% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 714,361 shares of the medical equipment provider’s stock worth $9,008,000 after buying an additional 20,311 shares during the period. MetLife Investment Advisors LLC acquired a new stake in MiMedx Group during the 4th quarter worth $608,000. Finally, Think Investments LP acquired a new stake in MiMedx Group during the 4th quarter worth $7,826,000. 80.35% of the stock is currently owned by institutional investors.
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About MiMedx Group
MiMedx Group, Inc, a biopharmaceutical company, develops and markets regenerative biologics utilizing human placental tissue allografts with patent-protected processes for various sectors of healthcare. It processes the human placental tissue utilizing its proprietary PURION Process to produce allografts.
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