MiMedx Group (NASDAQ:MDXG) Shares Gap Down After Analyst Downgrade

MiMedx Group, Inc. (NASDAQ:MDXG)’s share price gapped down prior to trading on Thursday after Craig Hallum lowered their price target on the stock from $14.00 to $12.00. The stock had previously closed at $7.45, but opened at $6.50. Craig Hallum currently has a buy rating on the stock. MiMedx Group shares last traded at $6.68, with a volume of 133,707 shares traded.

MDXG has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of MiMedx Group in a research report on Wednesday, May 1st. StockNews.com raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of MiMedx Group in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $12.00.

Hedge Funds Weigh In On MiMedx Group

Several institutional investors and hedge funds have recently bought and sold shares of MDXG. Vanguard Group Inc. lifted its stake 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 valued at $46,927,000 after purchasing an additional 250,812 shares in the last quarter. Raymond James & Associates purchased a new position in shares of MiMedx Group in the 4th quarter valued at $114,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of MiMedx Group by 6.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 211,571 shares of the company’s stock valued at $1,855,000 after acquiring an additional 13,628 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in MiMedx Group during the 4th quarter worth $1,594,000. Finally, Custom Index Systems LLC acquired a new stake in MiMedx Group in the 4th quarter valued at $121,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Stock Down 3.3 %

The firm has a 50-day simple moving average of $7.09 and a 200 day simple moving average of $7.44. The company has a market capitalization of $948.39 million, a PE ratio of 14.68 and a beta of 1.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.85 and a quick ratio of 2.71.

MiMedx Group (NASDAQ:MDXG) last announced its 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 34.24% and a net margin of 23.63%. The business had revenue of $84.71 million for the quarter, compared to the consensus estimate of $79.36 million. On average, research analysts predict that MiMedx Group, Inc. will post 0.32 EPS for the current fiscal year.

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.