StockNews.com Downgrades MiMedx Group (NASDAQ:MDXG) to Buy

MiMedx Group (NASDAQ:MDXG) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of MiMedx Group in a research note on Thursday, February 27th.

MiMedx Group Stock Performance

NASDAQ MDXG traded down $0.17 during trading on Wednesday, reaching $6.63. 489,764 shares of the company’s stock were exchanged, compared to its average volume of 696,177. The stock has a market capitalization of $977.04 million, a P/E ratio of 12.05 and a beta of 1.74. The business has a 50 day moving average price of $7.75 and a 200-day moving average price of $7.99. MiMedx Group has a fifty-two week low of $5.47 and a fifty-two week high of $10.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. The business had revenue of $92.91 million during the quarter, compared to analysts’ expectations of $89.42 million. Sell-side analysts forecast that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at MiMedx Group

In other news, CAO William Frank Iv Hulse sold 81,446 shares of MiMedx Group stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.80, for a total transaction of $635,278.80. Following the completion of the sale, the chief accounting officer now owns 494,774 shares in the company, valued at approximately $3,859,237.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $32,396.34. Following the transaction, the insider now owns 310,836 shares in the company, valued at $2,452,496.04. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,018 shares of company stock worth $1,130,312 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of MiMedx Group

Several large investors have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY lifted its holdings in shares of MiMedx Group by 0.5% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 4,686,231 shares of the company’s stock valued at $45,082,000 after purchasing an additional 22,131 shares in the last quarter. Cannell Capital LLC grew its holdings in MiMedx Group by 1.1% during the 4th quarter. Cannell Capital LLC now owns 3,639,545 shares of the company’s stock valued at $35,012,000 after buying an additional 40,235 shares in the last quarter. First Light Asset Management LLC bought a new stake in MiMedx Group in the fourth quarter worth $32,168,000. Geode Capital Management LLC raised its position in shares of MiMedx Group by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock valued at $16,518,000 after buying an additional 44,254 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of MiMedx Group by 18.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,804,557 shares of the company’s stock worth $17,360,000 after purchasing an additional 280,327 shares during the period. 79.15% of the stock is owned by 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.