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 report released on Friday.

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

MiMedx Group Trading Down 1.7 %

Shares of NASDAQ:MDXG opened at $7.37 on Friday. The company’s 50-day moving average price is $7.35 and its two-hundred day moving average price is $7.57. MiMedx Group has a one year low of $5.13 and a one year 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 stock has a market capitalization of $1.09 billion, a PE ratio of 16.75 and a beta of 1.44.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. The company had revenue of $86.83 million during the quarter, compared to analyst estimates of $85.58 million. On average, equities analysts forecast that MiMedx Group will post 0.34 EPS for the current fiscal year.

Insider Activity at MiMedx Group

In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total transaction of $162,028.95. Following the completion of the transaction, the chief accounting officer now directly owns 479,959 shares of the company’s stock, valued at $3,815,674.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of the stock in a transaction dated Wednesday, March 13th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Ricci S. Whitlow sold 15,271 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total transaction of $122,320.71. Following the sale, the chief operating officer now owns 401,050 shares of the company’s stock, valued at $3,212,410.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,145 shares of company stock worth $409,378. Company insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted 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 purchasing an additional 250,812 shares during the period. Cannell Capital LLC lifted its holdings in shares of MiMedx Group by 9.1% during the 4th quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock worth $21,758,000 after acquiring an additional 207,207 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of MiMedx Group by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock worth $9,947,000 after acquiring an additional 57,704 shares in the last quarter. EAM Investors LLC boosted its position in shares of MiMedx Group by 20.9% during the 3rd quarter. EAM Investors LLC now owns 664,213 shares of the company’s stock worth $4,842,000 after acquiring an additional 114,880 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in 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 acquiring an additional 493,759 shares during the last quarter. Institutional investors and hedge funds 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.