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

MiMedx Group (NASDAQ:MDXG – Get Rating) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Separately, HC Wainwright upped their target price on shares of MiMedx Group from $8.00 to $9.50 in a report on Wednesday, May 3rd.

MiMedx Group Trading Down 0.7 %

MDXG opened at $6.02 on Friday. MiMedx Group has a 12-month low of $2.43 and a 12-month high of $6.41. The company’s 50 day moving average is $3.89 and its 200 day moving average is $3.60. The company has a market cap of $695.92 million, a price-to-earnings ratio of -21.50 and a beta of 1.56.

MiMedx Group (NASDAQ:MDXG – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $74.38 million during the quarter, compared to the consensus estimate of $74.31 million. As a group, analysts predict that MiMedx Group will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Benjamin Stein sold 51,756 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $5.34, for a total value of $276,377.04. Following the transaction, the insider now directly owns 337,644 shares of the company’s stock, valued at approximately $1,803,018.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other MiMedx Group news, insider Robert Benjamin Stein sold 51,756 shares of MiMedx Group stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $5.34, for a total value of $276,377.04. Following the sale, the insider now directly owns 337,644 shares in the company, valued at approximately $1,803,018.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO William Frank Iv Hulse sold 15,555 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $4.53, for a total transaction of $70,464.15. Following the transaction, the chief accounting officer now owns 349,361 shares of the company’s stock, valued at approximately $1,582,605.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,755 shares of company stock valued at $666,714. Corporate insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On MiMedx Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its position in MiMedx Group by 2,943.6% during the first quarter. Federated Hermes Inc. now owns 1,718,749 shares of the company’s stock valued at $8,095,000 after acquiring an additional 1,662,278 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of MiMedx Group by 28.9% during the third quarter. Vanguard Group Inc. now owns 6,018,658 shares of the company’s stock valued at $17,274,000 after buying an additional 1,349,728 shares during the period. Nantahala Capital Management LLC purchased a new position in shares of MiMedx Group during the fourth quarter valued at approximately $3,190,000. Paradigm Capital Management Inc. NY boosted its position in shares of MiMedx Group by 62.3% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,845,300 shares of the company’s stock valued at $5,130,000 after buying an additional 708,000 shares during the period. Finally, Royce & Associates LP bought a new stake in shares of MiMedx Group during the third quarter worth $1,564,000. 56.56% of the stock is currently owned by hedge funds and other institutional investors.

MiMedx Group Company Profile

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MiMedx Group, Inc is a therapeutic biologics company, which engages in the design, manufacture, and marketing of products, and tissue processing services. It serves the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare. Its biomaterial platform technologies include AmnioFix and EpiFix, a tissue allografts derived from amnion and chorion layers of human placental membrane, EpiCord and AmnioCord, a tissue allografts derived from umbilical cord tissue, and AmnioFill, a placental connective tissue matrix derived from the placental disc and other placental tissue.