MiMedx Group (NASDAQ:MDXG) Shares Gap Up to $6.70

MiMedx Group, Inc. (NASDAQ:MDXG) gapped up before the market opened on Tuesday . The stock had previously closed at $6.70, but opened at $6.93. MiMedx Group shares last traded at $6.85, with a volume of 48,746 shares changing hands.

Analysts Set New Price Targets

MDXG has been the topic of several analyst reports. Lake Street Capital initiated coverage on MiMedx Group in a research report on Thursday, March 7th. They set a “buy” rating and a $12.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of MiMedx Group in a research report on Wednesday, May 1st. Cantor Fitzgerald assumed coverage on MiMedx Group in a research report on Tuesday. They set an “overweight” rating and a $11.00 target price on the stock. Finally, StockNews.com downgraded MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Stock Up 0.6 %

The company has a 50-day simple moving average of $7.17 and a 200 day simple moving average of $7.62. The company has a market cap of $1.01 billion, a P/E ratio of 15.50 and a beta of 1.99. The company has a current ratio of 3.29, a quick ratio of 2.71 and a debt-to-equity ratio of 0.12.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $84.71 million for the quarter, compared to the consensus estimate of $79.36 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. On average, equities analysts anticipate that MiMedx Group, Inc. will post 0.33 EPS for the current year.

Institutional Investors Weigh In On MiMedx Group

Hedge funds have recently made changes to their positions in the company. AJOVista LLC purchased a new stake in shares of MiMedx Group in the 4th quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of MiMedx Group in the 1st quarter worth $27,000. Entropy Technologies LP purchased a new stake in shares of MiMedx Group in the 1st quarter worth $99,000. Loudon Investment Management LLC purchased a new stake in shares of MiMedx Group in the 4th quarter worth $105,000. Finally, KMG Fiduciary Partners LLC purchased a new stake in shares of MiMedx Group in the 4th quarter worth $105,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

MiMedx Group Company Profile

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.