MiMedx Group (NASDAQ:MDXG) Sees Unusually-High Trading Volume – Still a Buy?

MiMedx Group, Inc (NASDAQ:MDXG) shares saw unusually-strong trading volume on Friday . Approximately 1,419,127 shares changed hands during mid-day trading, an increase of 106% from the previous session’s volume of 688,078 shares.The stock last traded at $7.6850 and had previously closed at $7.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MDXG shares. Cantor Fitzgerald lifted their price objective on shares of MiMedx Group from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of MiMedx Group in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

MiMedx Group Stock Up 3.4%

The company has a current ratio of 4.39, a quick ratio of 3.90 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 28.33 and a beta of 1.73. The firm’s fifty day simple moving average is $6.99 and its 200 day simple moving average is $6.79.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Monday, November 13th. The company reported ($0.03) EPS for the quarter. MiMedx Group had a return on equity of 28.35% and a net margin of 10.38%.The firm had revenue of $67.69 million for the quarter. Sell-side analysts predict that MiMedx Group, Inc will post 0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trigran Investments Inc. lifted its position in shares of MiMedx Group by 10.4% during the 2nd quarter. Trigran Investments Inc. now owns 8,390,458 shares of the company’s stock worth $51,266,000 after buying an additional 790,901 shares during the last quarter. Millennium Management LLC lifted its position in shares of MiMedx Group by 93.9% during the 1st quarter. Millennium Management LLC now owns 1,230,984 shares of the company’s stock worth $9,355,000 after buying an additional 596,016 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of MiMedx Group by 5,332.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 559,058 shares of the company’s stock worth $3,416,000 after buying an additional 548,767 shares during the last quarter. Meros Investment Management LP lifted its position in shares of MiMedx Group by 107.7% during the 1st quarter. Meros Investment Management LP now owns 820,605 shares of the company’s stock worth $6,237,000 after buying an additional 425,531 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of MiMedx Group during the 2nd quarter worth approximately $2,317,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

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.