MiMedx Group (NASDAQ:MDXG) Rating Increased 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 note released on Wednesday morning.

MDXG has been the subject of several other reports. Cantor Fitzgerald restated an overweight rating and issued a $11.00 price target on shares of MiMedx Group in a research report on Thursday, August 1st. Craig Hallum reduced their price objective on shares of MiMedx Group from $14.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $12.00.

MiMedx Group Trading Up 3.1 %

NASDAQ MDXG opened at $6.58 on Wednesday. The company has a market cap of $966.01 million, a price-to-earnings ratio of 14.95 and a beta of 1.98. MiMedx Group has a twelve month low of $5.57 and a twelve 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 business’s fifty day moving average is $6.83 and its 200 day moving average is $7.18.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, July 31st. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $87.21 million during the quarter, compared to the consensus estimate of $88.44 million. MiMedx Group had a return on equity of 34.24% and a net margin of 23.63%. As a group, sell-side analysts expect that MiMedx Group will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Paradigm Capital Management Inc. NY raised its stake in MiMedx Group by 6.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock worth $28,879,000 after buying an additional 258,700 shares during the last quarter. Cannell Capital LLC grew its holdings in MiMedx Group by 9.1% during the 4th quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock worth $21,758,000 after acquiring an additional 207,207 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MiMedx Group by 47.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,822 shares of the company’s stock worth $8,958,000 after acquiring an additional 413,443 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of MiMedx Group by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock valued at $9,947,000 after purchasing an additional 57,704 shares during the period. Finally, Millennium Management LLC boosted its position in shares of MiMedx Group by 339.9% during the 2nd quarter. Millennium Management LLC now owns 889,446 shares of the company’s stock valued at $6,164,000 after purchasing an additional 687,267 shares in the last quarter. 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.