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

MiMedx Group (NASDAQ:MDXG) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

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

MiMedx Group Stock Down 1.7 %

MiMedx Group stock traded down $0.13 during trading hours on Friday, hitting $7.37. The company had a trading volume of 832,074 shares, compared to its average volume of 796,746. MiMedx Group has a fifty-two week low of $5.13 and a fifty-two week high of $9.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.29 and a quick ratio of 3.11. The firm has a market capitalization of $1.09 billion, a P/E ratio of 16.75 and a beta of 1.44. The firm’s fifty day moving average is $7.36 and its 200-day moving average is $7.56.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results 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). MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. The company had revenue of $86.83 million during the quarter, compared to analyst estimates of $85.58 million. On average, research analysts forecast that MiMedx Group will post 0.32 earnings per share for the current year.

Insider Buying and Selling at MiMedx Group

In related news, COO Ricci S. Whitlow sold 15,493 shares of the firm’s 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 transaction, the chief operating officer now directly owns 416,321 shares in the company, valued at approximately $3,359,710.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total value of $162,028.95. Following the transaction, the chief accounting officer now directly owns 479,959 shares of the company’s stock, valued at approximately $3,815,674.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction that occurred 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 directly 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 a total of 51,145 shares of company stock worth $409,378 over the last 90 days. Insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On MiMedx Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cannell Capital LLC boosted its holdings in MiMedx Group by 106.7% in the 3rd quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock valued at $16,576,000 after purchasing an additional 1,173,506 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of MiMedx Group by 1,577.5% in the fourth quarter. Russell Investments Group Ltd. now owns 525,059 shares of the company’s stock valued at $4,605,000 after buying an additional 493,759 shares during the period. Calamos Advisors LLC acquired a new stake in MiMedx Group during the fourth quarter worth about $3,118,000. Vanguard Group Inc. grew its position in MiMedx Group by 4.1% during the third quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock worth $46,927,000 after buying an additional 250,812 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in MiMedx Group by 69.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock valued at $3,928,000 after acquiring an additional 183,141 shares during the period. Institutional investors own 79.15% of the company’s stock.

About MiMedx Group

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.