StockNews.com Upgrades MiMedx Group (NASDAQ:MDXG) to “Strong-Buy”

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

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group Trading Down 3.4 %

Shares of MiMedx Group stock traded down $0.25 on Friday, hitting $7.06. The stock had a trading volume of 572,197 shares, compared to its average volume of 695,426. The stock has a 50 day moving average of $8.11 and a 200 day moving average of $7.94. The firm has a market capitalization of $1.04 billion, a P/E ratio of 12.84 and a beta of 1.74. MiMedx Group has a twelve month low of $5.47 and a twelve month high of $10.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $92.91 million during the quarter, compared to analysts’ expectations of $89.42 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. Sell-side analysts expect that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Insider Transactions at MiMedx Group

In other MiMedx Group news, insider Kimberly Maersk-Moller sold 4,106 shares of MiMedx Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the completion of the sale, the insider now directly owns 310,836 shares in the company, valued at approximately $2,452,496.04. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William Frank Iv Hulse sold 81,446 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $7.80, for a total value of $635,278.80. Following the transaction, the chief accounting officer now owns 494,774 shares in the company, valued at $3,859,237.20. The trade was a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,018 shares of company stock worth $1,130,312. Company insiders own 1.30% of the company’s stock.

Institutional Trading of MiMedx Group

Hedge funds have recently modified their holdings of the stock. IMG Wealth Management Inc. acquired a new stake in MiMedx Group in the fourth quarter worth $28,000. Virtus Fund Advisers LLC acquired a new stake in shares of MiMedx Group in the 4th quarter valued at about $35,000. Van ECK Associates Corp acquired a new stake in shares of MiMedx Group in the 4th quarter valued at about $40,000. Point72 DIFC Ltd increased its position in MiMedx Group by 127.6% in the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after buying an additional 4,275 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in MiMedx Group by 77.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock worth $63,000 after buying an additional 2,837 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.