MiMedx Group (NASDAQ:MDXG) Shares Gap Up – Should You Buy?

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) gapped up prior to trading on Thursday . The stock had previously closed at $5.69, but opened at $6.22. MiMedx Group shares last traded at $6.98, with a volume of 221,017 shares trading hands.

Analyst Ratings Changes

MDXG has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of MiMedx Group in a research note on Thursday, August 1st. Craig Hallum dropped their target price on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com lowered shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $12.00.

MiMedx Group Trading Up 23.2 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.22 and a current ratio of 3.85. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 12.48 and a beta of 1.97. The company’s 50-day moving average is $6.05 and its 200-day moving average is $6.66.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. The business had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $88.44 million. On average, research analysts predict that MiMedx Group, Inc. will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On MiMedx Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of MiMedx Group during the 1st quarter worth approximately $27,000. Blue Trust Inc. acquired a new stake in MiMedx Group during the 3rd quarter worth $30,000. Point72 Asset Management L.P. bought a new stake in shares of MiMedx Group during the 2nd quarter valued at $40,000. Quest Partners LLC acquired a new position in shares of MiMedx Group in the 2nd quarter valued at $81,000. Finally, Entropy Technologies LP bought a new position in shares of MiMedx Group in the 1st quarter worth $99,000. 79.15% of the stock is owned by institutional investors and hedge funds.

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.