MiMedx Group (NASDAQ:MDXG) Cut to “Buy” at StockNews.com

StockNews.com cut shares of MiMedx Group (NASDAQ:MDXG) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

A number of other equities research analysts also recently weighed in 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 target for the company. HC Wainwright reiterated a buy rating and issued a $11.00 target price on shares of MiMedx Group in a research note on Wednesday, May 1st. Finally, Mizuho raised their price target on shares of MiMedx Group from $13.00 to $14.00 and gave the company a buy rating in a report on Friday, March 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $12.25.

MiMedx Group Stock Down 1.7 %

Shares of NASDAQ:MDXG opened at $7.37 on Friday. MiMedx Group has a 52 week low of $5.13 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.29. The company has a market cap of $1.09 billion, a PE ratio of 16.75 and a beta of 1.44. The firm has a 50 day simple moving average of $7.35 and a 200 day simple moving average of $7.58.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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. As a group, research analysts expect that MiMedx Group will post 0.34 earnings per share for the current year.

Insider Transactions at MiMedx Group

In other news, COO Ricci S. Whitlow sold 15,271 shares of MiMedx Group stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total value of $122,320.71. Following the transaction, the chief operating officer now directly owns 401,050 shares in the company, valued at $3,212,410.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Ricci S. Whitlow sold 15,271 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total value of $122,320.71. Following the sale, the chief operating officer now owns 401,050 shares in the company, valued at $3,212,410.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO William Frank Iv Hulse sold 20,381 shares of the company’s 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 transaction, the chief accounting officer now owns 479,959 shares of the company’s stock, valued at $3,815,674.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,145 shares of company stock worth $409,378. 19.90% of the stock is owned by insiders.

Institutional Investors Weigh In On MiMedx Group

A number of institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank grew its holdings in shares of MiMedx Group by 36.4% during the 3rd quarter. Swiss National Bank now owns 254,200 shares of the company’s stock worth $1,853,000 after purchasing an additional 67,900 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MiMedx Group by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock valued at $46,927,000 after buying an additional 250,812 shares in the last quarter. Calamos Advisors LLC bought a new position in shares of MiMedx Group during the 4th quarter worth about $3,118,000. Cannell Capital LLC boosted its position in shares of MiMedx Group by 106.7% during the 3rd quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock valued at $16,576,000 after acquiring an additional 1,173,506 shares in the last quarter. Finally, Algert Global LLC bought a new stake in MiMedx Group in the third quarter valued at about $570,000. 79.15% of the stock is owned by institutional investors and hedge funds.

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.