MiMedx Group (NASDAQ:MDXG) Rating Increased to Strong-Buy at StockNews.com

MiMedx Group (NASDAQ:MDXG) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Several other brokerages also recently commented on MDXG. Cantor Fitzgerald initiated coverage on MiMedx Group in a report on Tuesday, July 2nd. They issued an “overweight” rating and a $11.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of MiMedx Group in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $12.00.

MiMedx Group Stock Up 0.3 %

Shares of NASDAQ MDXG opened at $6.85 on Thursday. The business has a fifty day moving average of $7.20 and a two-hundred day moving average of $7.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.29. MiMedx Group has a 52-week low of $5.57 and a 52-week high of $9.27. The stock has a market cap of $1.01 billion, a PE ratio of 15.57 and a beta of 1.99.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $84.71 million during the quarter, compared to the consensus estimate of $79.36 million. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. As a group, equities research analysts expect that MiMedx Group will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MDXG. Harbor Capital Advisors Inc. acquired a new position in shares of MiMedx Group in the 2nd quarter valued at $1,781,000. Caxton Associates LP bought a new position in MiMedx Group in the first quarter valued at approximately $1,018,000. Price T Rowe Associates Inc. MD increased its holdings in MiMedx Group by 13.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,978 shares of the company’s stock worth $254,000 after buying an additional 3,806 shares during the last quarter. Shell Asset Management Co. acquired a new position in shares of MiMedx Group during the 1st quarter worth about $113,000. Finally, Hillsdale Investment Management Inc. increased its position in MiMedx Group by 8.6% during the first quarter. Hillsdale Investment Management Inc. now owns 486,500 shares of the company’s stock worth $3,746,000 after buying an additional 38,600 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

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.