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

StockNews.com upgraded shares of MiMedx Group (NASDAQ:MDXG) from a buy rating to a strong-buy rating in a research report released on Thursday morning.

MDXG has been the topic of a number of other reports. Craig Hallum decreased their target price on MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of MiMedx Group in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MiMedx Group currently has an average rating of “Buy” and a consensus price target of $12.00.

MiMedx Group Price Performance

MiMedx Group stock traded up $0.07 during midday trading on Thursday, hitting $6.92. The company’s stock had a trading volume of 70,193 shares, compared to its average volume of 705,982. MiMedx Group has a 12 month low of $5.47 and a 12 month high of $9.27. The company has a quick ratio of 3.22, a current ratio of 3.85 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $6.06 and its 200-day moving average price is $6.66. The company has a market capitalization of $1.02 billion, a PE ratio of 12.45 and a beta of 1.97.

MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $88.44 million. MiMedx Group had a net margin of 23.86% and a return on equity of 27.28%. Analysts anticipate that MiMedx Group will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MDXG. Headlands Technologies LLC acquired a new stake in MiMedx Group during the 1st quarter worth about $27,000. Blue Trust Inc. purchased a new stake in shares of MiMedx Group in the third quarter worth approximately $30,000. Point72 Asset Management L.P. acquired a new stake in shares of MiMedx Group during the second quarter worth approximately $40,000. Quest Partners LLC purchased a new position in MiMedx Group during the second quarter valued at approximately $81,000. Finally, Entropy Technologies LP acquired a new position in MiMedx Group in the 1st quarter valued at approximately $99,000. Hedge funds and other 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.