MiMedx Group (NASDAQ:MDXG) Downgraded by StockNews.com to “Buy”

StockNews.com downgraded shares of MiMedx Group (NASDAQ:MDXG) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.

A number of other equities analysts have also recently issued reports on MDXG. Cantor Fitzgerald assumed coverage on shares of MiMedx Group in a research note on Tuesday. They issued an overweight rating and a $11.00 price objective for the company. HC Wainwright reaffirmed a buy rating and issued a $11.00 target price on shares of MiMedx Group in a report on Wednesday, May 1st. Finally, Lake Street Capital initiated coverage on shares of MiMedx Group in a report on Thursday, March 7th. They issued a buy rating and a $12.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $12.00.

MiMedx Group Trading Up 0.6 %

Shares of MDXG stock opened at $6.82 on Wednesday. MiMedx Group has a 52-week low of $5.57 and a 52-week high of $9.27. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 15.50 and a beta of 1.99. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.29. The firm has a fifty day moving average of $7.17 and a 200-day moving average of $7.62.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. The company had revenue of $84.71 million during the quarter, compared to analysts’ expectations of $79.36 million. On average, equities research analysts forecast that MiMedx Group will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MiMedx Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Caxton Associates LP bought a new stake in MiMedx Group during the 1st quarter worth about $1,018,000. Price T Rowe Associates Inc. MD grew its holdings in MiMedx Group by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,978 shares of the company’s stock worth $254,000 after acquiring an additional 3,806 shares during the last quarter. Shell Asset Management Co. bought a new stake in MiMedx Group during the 1st quarter worth about $113,000. Hillsdale Investment Management Inc. grew its holdings in MiMedx Group by 8.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 486,500 shares of the company’s stock worth $3,746,000 after acquiring an additional 38,600 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in MiMedx Group during the 1st quarter worth about $99,000. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Company Profile

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.