Analysts Set MiMedx Group, Inc. (NASDAQ:MDXG) Target Price at $12.00

MiMedx Group, Inc. (NASDAQ:MDXG) has been assigned an average recommendation of “Buy” from the four ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $12.00.

Several research firms recently commented on MDXG. StockNews.com lowered MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group Stock Performance

MiMedx Group stock opened at $8.09 on Thursday. The stock’s 50 day moving average price is $8.66 and its 200 day moving average price is $7.75. The firm has a market capitalization of $1.19 billion, a PE ratio of 14.71 and a beta of 1.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. MiMedx Group has a one year low of $5.47 and a one year high of $10.14.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $92.91 million for the quarter, compared to analyst estimates of $89.42 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. As a group, sell-side analysts expect that MiMedx Group will post 0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On MiMedx Group

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of MiMedx Group by 2.2% during the 4th quarter. Invesco Ltd. now owns 56,565 shares of the company’s stock valued at $544,000 after acquiring an additional 1,226 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of MiMedx Group by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 183,021 shares of the company’s stock valued at $1,082,000 after acquiring an additional 1,822 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of MiMedx Group by 0.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 355,387 shares of the company’s stock valued at $2,100,000 after acquiring an additional 2,737 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of MiMedx Group by 77.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock valued at $63,000 after acquiring an additional 2,837 shares in the last quarter. Finally, IMG Wealth Management Inc. acquired a new stake in shares of MiMedx Group during the 4th quarter valued at approximately $28,000. 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.