StockNews.com Lowers MiMedx Group (NASDAQ:MDXG) to Buy

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

Other equities research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of MiMedx Group in a research report on Wednesday. Lake Street Capital initiated coverage on shares of MiMedx Group in a report on Thursday, March 7th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Mizuho raised their target price on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.25.

MiMedx Group Price Performance

MiMedx Group stock traded down $0.13 during midday trading on Friday, reaching $7.37. 832,074 shares of the company were exchanged, compared to its average volume of 796,746. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.75 and a beta of 1.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 3.29. The firm’s 50-day simple moving average is $7.36 and its 200-day simple moving average is $7.56. MiMedx Group has a 1 year low of $5.13 and a 1 year high of $9.27.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The firm had revenue of $86.83 million during the quarter, compared to analyst estimates of $85.58 million. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. On average, analysts anticipate that MiMedx Group will post 0.32 EPS for the current year.

Insider Activity

In related news, COO Ricci S. Whitlow sold 15,271 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total transaction of $122,320.71. Following the completion of the sale, the chief operating officer now owns 401,050 shares of the company’s stock, valued at approximately $3,212,410.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Ricci S. Whitlow sold 15,271 shares of MiMedx Group stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total transaction of $122,320.71. Following the transaction, the chief operating officer now owns 401,050 shares in the company, valued at approximately $3,212,410.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $8.07, for a total value of $125,028.51. Following the completion of the sale, the chief operating officer now owns 416,321 shares of the company’s stock, valued at $3,359,710.47. The disclosure for this sale can be found here. Insiders have sold 51,145 shares of company stock valued at $409,378 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On MiMedx Group

Several hedge funds have recently modified their holdings of the stock. AJOVista LLC acquired a new stake in MiMedx Group in the fourth quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale purchased a new stake in MiMedx Group during the 3rd quarter worth $38,000. Robeco Institutional Asset Management B.V. purchased a new stake in MiMedx Group during the 3rd quarter worth $74,000. M&T Bank Corp purchased a new position in MiMedx Group in the 3rd quarter valued at about $75,000. Finally, E Fund Management Co. Ltd. acquired a new stake in shares of MiMedx Group during the third quarter valued at about $84,000. 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.