MiMedx Group (NASDAQ:MDXG) Shares Gap Up to $6.70

MiMedx Group, Inc. (NASDAQ:MDXG)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $6.70, but opened at $6.93. MiMedx Group shares last traded at $6.85, with a volume of 48,746 shares traded.

Wall Street Analysts Forecast Growth

MDXG has been the topic of a number of recent research reports. StockNews.com raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 3rd. Lake Street Capital began coverage on shares of MiMedx Group in a research note on Thursday, March 7th. They issued a “buy” rating and a $12.00 price target on the stock. Cantor Fitzgerald began coverage on shares of MiMedx Group in a research note on Tuesday. They issued an “overweight” rating and a $11.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of MiMedx Group in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $12.00.

MiMedx Group Stock Performance

The company has a market capitalization of $999.28 million, a P/E ratio of 15.23 and a beta of 1.99. The business has a 50-day moving average of $7.15 and a 200-day moving average of $7.64. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.29 and a quick ratio of 2.71.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. The firm had revenue of $84.71 million for the quarter, compared to analyst estimates of $79.36 million. On average, sell-side analysts anticipate that MiMedx Group, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On MiMedx Group

Large investors have recently modified their holdings of the business. Calamos Advisors LLC acquired a new position in MiMedx Group in the fourth quarter valued at approximately $3,118,000. Vanguard Group Inc. increased its position in shares of MiMedx Group by 4.1% in the third quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock valued at $46,927,000 after buying an additional 250,812 shares in the last quarter. Cannell Capital LLC increased its position in shares of MiMedx Group by 106.7% during the third quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock worth $16,576,000 after purchasing an additional 1,173,506 shares in the last quarter. Scotia Capital Inc. purchased a new stake in shares of MiMedx Group during the third quarter worth approximately $130,000. Finally, Hillsdale Investment Management Inc. increased its position in shares of MiMedx Group by 69.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock worth $3,928,000 after purchasing an additional 183,141 shares in the last quarter. Hedge funds and other institutional investors 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.