MiMedx Group, Inc. (NASDAQ:MDXG) Receives Average Recommendation of “Buy” from Analysts

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) have earned an average recommendation of “Buy” from the four ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $12.25.

Several research analysts recently commented on MDXG shares. Mizuho raised their price objective on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Lake Street Capital started coverage on shares of MiMedx Group in a report on Thursday, March 7th. They issued a “buy” rating and a $12.00 price objective for the company.

MiMedx Group Trading Up 1.2 %

Shares of MDXG stock opened at $7.70 on Monday. The company has a 50 day moving average of $8.03 and a 200-day moving average of $7.69. The company has a quick ratio of 3.11, a current ratio of 3.57 and a debt-to-equity ratio of 0.34. MiMedx Group has a 12-month low of $3.08 and a 12-month high of $9.27. The firm has a market cap of $1.13 billion, a P/E ratio of 24.06 and a beta of 1.32.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). MiMedx Group had a return on equity of 41.12% and a net margin of 14.49%. The company had revenue of $86.83 million for the quarter, compared to analysts’ expectations of $85.58 million. Sell-side analysts anticipate that MiMedx Group will post 0.33 earnings per share for the current year.

Insider Buying and Selling at MiMedx Group

In other MiMedx Group news, COO Ricci S. Whitlow sold 15,493 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $8.07, for a total value of $125,028.51. Following the completion of the transaction, the chief operating officer now directly owns 416,321 shares of the company’s stock, valued at approximately $3,359,710.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the completion of the transaction, the chief accounting officer now directly owns 479,959 shares of the company’s stock, valued at approximately $3,815,674.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Ricci S. Whitlow sold 15,493 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $8.07, for a total transaction of $125,028.51. Following the completion of the transaction, the chief operating officer now directly owns 416,321 shares of the company’s stock, valued at $3,359,710.47. The disclosure for this sale can be found here. Insiders sold a total of 51,145 shares of company stock valued at $409,378 in the last three months. Company insiders own 19.90% of the company’s stock.

Institutional Trading of MiMedx Group

Several institutional investors and hedge funds have recently made changes to their positions in MDXG. Swiss National Bank raised its position in shares of MiMedx Group by 8.2% during the 1st quarter. Swiss National Bank now owns 172,400 shares of the company’s stock valued at $812,000 after buying an additional 13,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of MiMedx Group by 16.7% during the 1st quarter. JPMorgan Chase & Co. now owns 78,218 shares of the company’s stock valued at $368,000 after buying an additional 11,208 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of MiMedx Group during the 1st quarter valued at $151,000. MetLife Investment Management LLC raised its position in shares of MiMedx Group by 56.2% during the 1st quarter. MetLife Investment Management LLC now owns 62,811 shares of the company’s stock valued at $296,000 after buying an additional 22,593 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of MiMedx Group by 5.5% during the 1st quarter. Rhumbline Advisers now owns 120,353 shares of the company’s stock valued at $567,000 after buying an additional 6,250 shares in the last quarter. Hedge funds and other 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.