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

StockNews.com upgraded shares of MiMedx Group (NASDAQ:MDXGFree Report) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of MiMedx Group in a research note on Thursday, February 27th.

Check Out Our Latest Research Report on MDXG

MiMedx Group Stock Performance

Shares of MiMedx Group stock opened at $7.06 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53. The firm has a 50 day simple moving average of $8.11 and a 200 day simple moving average of $7.97. MiMedx Group has a fifty-two week low of $5.47 and a fifty-two week high of $10.14. The firm has a market cap of $1.04 billion, a P/E ratio of 12.84 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXGGet Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $92.91 million for the quarter, compared to the consensus estimate of $89.42 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. Sell-side analysts predict that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kimberly Maersk-Moller sold 4,106 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $32,396.34. Following the completion of the transaction, the insider now directly owns 310,836 shares of the company’s stock, valued at approximately $2,452,496.04. This represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William Frank Iv Hulse sold 81,446 shares of MiMedx Group stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.80, for a total value of $635,278.80. Following the completion of the sale, the chief accounting officer now directly owns 494,774 shares in the company, valued at $3,859,237.20. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,018 shares of company stock valued at $1,130,312 in the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDXG. Paradigm Capital Management Inc. NY grew its stake in shares of MiMedx Group by 0.5% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 4,686,231 shares of the company’s stock worth $45,082,000 after acquiring an additional 22,131 shares in the last quarter. Cannell Capital LLC lifted its position in MiMedx Group by 1.1% during the 4th quarter. Cannell Capital LLC now owns 3,639,545 shares of the company’s stock worth $35,012,000 after buying an additional 40,235 shares in the last quarter. First Light Asset Management LLC acquired a new position in shares of MiMedx Group during the 4th quarter worth about $32,168,000. Geode Capital Management LLC grew its holdings in shares of MiMedx Group by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock valued at $16,518,000 after acquiring an additional 44,254 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of MiMedx Group by 18.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,804,557 shares of the company’s stock valued at $17,360,000 after acquiring an additional 280,327 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

MiMedx Group Company Profile

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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.

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