Shares of MiMedx Group, Inc (NASDAQ:MDXG – Get Free Report) were down 5.9% on Thursday . The company traded as low as $3.55 and last traded at $3.5660. Approximately 623,967 shares changed hands during trading, a decline of 51% from the average daily volume of 1,279,080 shares. The stock had previously closed at $3.79.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on MDXG shares. Citizens Jmp decreased their price target on shares of MiMedx Group from $7.00 to $6.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Cantor Fitzgerald decreased their price target on shares of MiMedx Group from $12.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings downgraded shares of MiMedx Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Craig Hallum decreased their price target on shares of MiMedx Group from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, UBS Group set a $10.00 price target on shares of MiMedx Group in a research report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.
Check Out Our Latest Stock Analysis on MiMedx Group
MiMedx Group Trading Down 4.7%
MiMedx Group (NASDAQ:MDXG – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $58.99 million during the quarter, compared to the consensus estimate of $65.80 million. MiMedx Group had a net margin of 7.88% and a return on equity of 21.03%. On average, research analysts predict that MiMedx Group, Inc will post -0.01 EPS for the current year.
Hedge Funds Weigh In On MiMedx Group
A number of hedge funds have recently added to or reduced their stakes in MDXG. First Light Asset Management LLC boosted its holdings in MiMedx Group by 89.5% in the third quarter. First Light Asset Management LLC now owns 3,652,952 shares of the company’s stock worth $25,498,000 after purchasing an additional 1,725,458 shares during the period. Nantahala Capital Management LLC acquired a new position in MiMedx Group in the third quarter worth $10,237,000. Marshall Wace LLP boosted its holdings in MiMedx Group by 864.9% in the fourth quarter. Marshall Wace LLP now owns 1,381,288 shares of the company’s stock worth $9,351,000 after purchasing an additional 1,238,132 shares during the period. Hillsdale Investment Management Inc. bought a new stake in MiMedx Group in the fourth quarter valued at $7,134,000. Finally, Disciplined Growth Investors Inc. MN lifted its stake in MiMedx Group by 283.0% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,383,451 shares of the company’s stock valued at $9,656,000 after buying an additional 1,022,202 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.
About MiMedx Group
MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.
MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.
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