Shares of MiMedx Group, Inc (NASDAQ:MDXG – Get Free Report) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.14.
Several equities analysts have recently issued reports on MDXG shares. Cantor Fitzgerald reissued an “overweight” rating on shares of MiMedx Group in a report on Tuesday, September 15th. Raymond James Financial set a $8.00 target price on MiMedx Group in a report on Monday, August 17th. Mizuho set a $7.00 price target on MiMedx Group in a research report on Thursday, October 29th. Weiss Ratings downgraded MiMedx Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 29th. Finally, Seaport Research Partners cut shares of MiMedx Group to a “neutral” rating in a research report on Monday, August 17th.
Check Out Our Latest Research Report on MiMedx Group
Institutional Trading of MiMedx Group
Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in MiMedx Group by 5.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 72,853 shares of the company’s stock valued at $338,000 after acquiring an additional 3,965 shares in the last quarter. Parallel Advisors LLC raised its position in shares of MiMedx Group by 2,248.3% in the third quarter. Parallel Advisors LLC now owns 7,632 shares of the company’s stock valued at $36,000 after purchasing an additional 7,307 shares during the period. GAMMA Investing LLC lifted its holdings in MiMedx Group by 2,422.5% during the 3rd quarter. GAMMA Investing LLC now owns 7,719 shares of the company’s stock worth $36,000 after buying an additional 7,413 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of MiMedx Group during the 1st quarter worth about $42,000. Finally, E Fund Management Co. Ltd. acquired a new position in MiMedx Group in the 2nd quarter valued at approximately $45,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
MiMedx Group Stock Performance
Shares of MiMedx Group stock opened at $3.31 on Friday. MiMedx Group has a fifty-two week low of $3.03 and a fifty-two week high of $7.77. The firm has a 50-day simple moving average of $4.38 and a two-hundred day simple moving average of $4.23. The company has a market cap of $483.03 million, a P/E ratio of -25.46 and a beta of 1.17.
MiMedx Group (NASDAQ:MDXG – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.01) earnings per share (EPS) for the quarter. MiMedx Group had a negative net margin of 6.32% and a positive return on equity of 2.39%. The firm had revenue of $62.28 million for the quarter, compared to analyst estimates of $68.56 million. Equities research analysts forecast that MiMedx Group will post -0.08 EPS for the current year.
About MiMedx Group
MiMedx Group, Inc (NASDAQ: MDXG) is a biotechnology company focused on developing and commercializing human placental tissue allografts for wound care and other medical applications. The company’s products are derived from donated placental tissue and are processed using its proprietary PURION technology platform.
MiMedx’s portfolio includes tissue-based products such as EPIFIX and EPICORD, which are used primarily by healthcare professionals in the management of chronic and acute wounds, including diabetic foot ulcers and other hard-to-heal wounds.
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