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

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

Other equities research analysts have also recently issued research reports about the stock. Craig Hallum cut their price target on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of MiMedx Group in a research note on Thursday, August 1st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $12.00.

MiMedx Group Stock Up 20.4 %

Shares of NASDAQ MDXG traded up $1.16 during trading on Thursday, reaching $6.85. The company had a trading volume of 1,668,259 shares, compared to its average volume of 708,985. The business’s 50-day moving average is $6.06 and its 200 day moving average is $6.66. 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 stock has a market cap of $1.01 billion, a PE ratio of 12.23 and a beta of 1.97. MiMedx Group has a 12-month low of $5.47 and a 12-month high of $9.27.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $87.21 million for the quarter, compared to the consensus estimate of $88.44 million. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. As a group, equities analysts forecast that MiMedx Group will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in MiMedx Group by 6.3% in the third quarter. Principal Financial Group Inc. now owns 55,495 shares of the company’s stock worth $328,000 after purchasing an additional 3,292 shares during the last quarter. Cannon Global Investment Management LLC boosted its stake in shares of MiMedx Group by 47.1% in the 3rd quarter. Cannon Global Investment Management LLC now owns 25,000 shares of the company’s stock worth $148,000 after buying an additional 8,000 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of 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 last quarter. Farther Finance Advisors LLC grew its holdings in shares of MiMedx Group by 88.6% in the third quarter. Farther Finance Advisors LLC now owns 24,599 shares of the company’s stock worth $145,000 after acquiring an additional 11,557 shares during the period. Finally, Calton & Associates Inc. purchased a new stake in MiMedx Group during the third quarter valued at $137,000. 79.15% of the stock is owned by hedge funds and other 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.