MiMedx Group (NASDAQ:MDXG) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of MiMedx Group (NASDAQ:MDXG) from a buy rating to a strong-buy rating in a research report released on Thursday morning.

MDXG has been the topic of several other reports. HC Wainwright restated a buy rating and issued a $11.00 price objective on shares of MiMedx Group in a research report on Wednesday, May 1st. Cantor Fitzgerald initiated coverage on MiMedx Group in a research report on Tuesday, July 2nd. They set an overweight rating and a $11.00 target price on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $12.00.

MiMedx Group Stock Up 0.3 %

Shares of NASDAQ:MDXG opened at $7.13 on Thursday. The company has a quick ratio of 2.71, a current ratio of 3.29 and a debt-to-equity ratio of 0.12. MiMedx Group has a 52-week low of $5.57 and a 52-week high of $9.27. The stock’s fifty day simple moving average is $7.19 and its 200-day simple moving average is $7.51. The company has a market capitalization of $1.05 billion, a P/E ratio of 16.20 and a beta of 1.99.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (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 business had revenue of $84.71 million for the quarter, compared to the consensus estimate of $79.36 million. As a group, equities research analysts forecast that MiMedx Group will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MiMedx Group

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of MiMedx Group by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock worth $46,927,000 after purchasing an additional 250,812 shares during the period. Cannell Capital LLC raised its holdings in shares of MiMedx Group by 9.1% in the 4th quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock worth $21,758,000 after purchasing an additional 207,207 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of MiMedx Group by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock worth $9,947,000 after purchasing an additional 57,704 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of MiMedx Group by 5.0% in the 1st quarter. Russell Investments Group Ltd. now owns 551,546 shares of the company’s stock worth $4,247,000 after purchasing an additional 26,487 shares during the period. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of MiMedx Group by 8.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 486,500 shares of the company’s stock worth $3,746,000 after purchasing an additional 38,600 shares during the period. 79.15% of the stock is currently owned by hedge funds and other 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.