MiMedx Group (NASDAQ:MDXG) Rating Lowered to Buy at StockNews.com

MiMedx Group (NASDAQ:MDXG) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other research firms have also weighed in on MDXG. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 target price on shares of MiMedx Group in a research note on Thursday, August 1st. Craig Hallum cut their target price on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MiMedx Group has an average rating of “Buy” and an average price target of $12.00.

MiMedx Group Price Performance

NASDAQ MDXG opened at $5.85 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.85 and a quick ratio of 3.22. The stock’s fifty day moving average price is $6.17 and its 200 day moving average price is $6.74. The company has a market cap of $863.48 million, a price-to-earnings ratio of 13.30 and a beta of 1.97. MiMedx Group has a 1 year low of $5.47 and a 1 year high of $9.27.

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

Hedge Funds Weigh In On MiMedx Group

Institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its holdings in MiMedx Group by 339.9% in the second quarter. Millennium Management LLC now owns 889,446 shares of the company’s stock valued at $6,164,000 after buying an additional 687,267 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MiMedx Group by 47.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,822 shares of the company’s stock valued at $8,958,000 after acquiring an additional 413,443 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in shares of MiMedx Group by 6.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock valued at $28,879,000 after buying an additional 258,700 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in MiMedx Group during the 2nd quarter valued at approximately $1,781,000. Finally, Los Angeles Capital Management LLC acquired a new stake in MiMedx Group during the 2nd quarter worth approximately $988,000. Institutional investors and hedge funds 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.