MiMedx Group (NASDAQ:MDXG) Shares Gap Down – Should You Sell?

MiMedx Group, Inc. (NASDAQ:MDXG) gapped down before the market opened on Thursday . The stock had previously closed at $8.01, but opened at $7.60. MiMedx Group shares last traded at $8.01, with a volume of 89,438 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on MDXG. StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of MiMedx Group in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, MiMedx Group presently has an average rating of “Buy” and a consensus target price of $12.40.

MiMedx Group Stock Up 3.2 %

The stock has a market capitalization of $1.24 billion, a PE ratio of 15.27 and a beta of 1.94. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average is $8.72 and its 200 day moving average is $7.70.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The business 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%. As a group, analysts anticipate that MiMedx Group, Inc. will post 0.3 EPS for the current year.

Institutional Trading of MiMedx Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC purchased a new position in shares of MiMedx Group in the fourth quarter worth about $32,168,000. Harbor Capital Advisors Inc. increased its holdings in MiMedx Group by 299.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock worth $6,074,000 after buying an additional 770,744 shares during the period. Norges Bank purchased a new position in MiMedx Group during the 4th quarter worth approximately $4,020,000. JPMorgan Chase & Co. lifted its stake in MiMedx Group by 133.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company’s stock valued at $6,668,000 after acquiring an additional 395,739 shares during the period. Finally, Meros Investment Management LP acquired a new stake in MiMedx Group during the 4th quarter valued at approximately $3,801,000. 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.