MiMedx Group (NASDAQ:MDXG) Trading Up 5.8% – Should You Buy?

MiMedx Group, Inc. (NASDAQ:MDXG) traded up 5.8% on Tuesday . The stock traded as high as $9.13 and last traded at $9.21. 82,488 shares changed hands during trading, a decline of 87% from the average session volume of 636,250 shares. The stock had previously closed at $8.71.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. The company has a market capitalization of $1.31 billion, a P/E ratio of 16.20 and a beta of 1.96. The business’s fifty day simple moving average is $9.20 and its 200-day simple moving average is $7.51.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $84.06 million for the quarter, compared to analyst estimates of $81.00 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. During the same period in the prior year, the company posted $0.05 EPS. As a group, equities analysts anticipate that MiMedx Group, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MiMedx Group

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of MiMedx Group by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 183,021 shares of the company’s stock valued at $1,082,000 after buying an additional 1,822 shares during the period. Hsbc Holdings PLC raised its position in MiMedx Group by 7.3% during the second quarter. Hsbc Holdings PLC now owns 34,343 shares of the company’s stock worth $233,000 after acquiring an additional 2,329 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in MiMedx Group by 0.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 355,387 shares of the company’s stock valued at $2,100,000 after buying an additional 2,737 shares during the last quarter. SkyView Investment Advisors LLC increased its position in MiMedx Group by 30.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company’s stock worth $77,000 after purchasing an additional 3,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in MiMedx Group by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,623 shares of the company’s stock valued at $316,000 after acquiring an additional 3,222 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.