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

StockNews.com cut shares of MiMedx Group (NASDAQ:MDXG – Get Rating) from a strong-buy rating to a buy rating in a research note published on Thursday.

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

MiMedx Group Stock Performance

NASDAQ MDXG opened at $5.68 on Thursday. The firm has a market cap of $656.61 million, a PE ratio of -20.29 and a beta of 1.56. MiMedx Group has a one year low of $2.43 and a one year high of $6.41. The firm’s fifty day moving average is $4.27 and its two-hundred day moving average is $3.81.

MiMedx Group (NASDAQ:MDXG – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $71.68 million during the quarter, compared to analyst estimates of $63.48 million. Research analysts predict that MiMedx Group will post -0.08 earnings per share for the current year.

Insider Activity

In other news, insider Robert Benjamin Stein sold 12,355 shares of MiMedx Group stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $4.24, for a total value of $52,385.20. Following the sale, the insider now owns 266,318 shares of the company’s stock, valued at $1,129,188.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MiMedx Group news, CAO William Frank Iv Hulse sold 5,870 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $5.93, for a total transaction of $34,809.10. Following the transaction, the chief accounting officer now directly owns 456,564 shares in the company, valued at $2,707,424.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Benjamin Stein sold 12,355 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $4.24, for a total transaction of $52,385.20. Following the transaction, the insider now owns 266,318 shares in the company, valued at $1,129,188.32. The disclosure for this sale can be found here. Insiders have sold a total of 133,522 shares of company stock valued at $637,983 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Isthmus Partners LLC grew its position in MiMedx Group by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 385,172 shares of the company’s stock worth $1,071,000 after buying an additional 26,064 shares during the period. Nisa Investment Advisors LLC grew its position in shares of MiMedx Group by 311.6% in the third quarter. Nisa Investment Advisors LLC now owns 12,100 shares of the company’s stock valued at $33,000 after purchasing an additional 9,160 shares during the last quarter. Beck Mack & Oliver LLC grew its position in shares of MiMedx Group by 11.7% in the third quarter. Beck Mack & Oliver LLC now owns 1,025,135 shares of the company’s stock valued at $2,942,000 after purchasing an additional 107,550 shares during the last quarter. WMS Partners LLC grew its position in shares of MiMedx Group by 61.8% in the fourth quarter. WMS Partners LLC now owns 98,065 shares of the company’s stock valued at $273,000 after purchasing an additional 37,474 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of MiMedx Group by 107.6% in the third quarter. Teacher Retirement System of Texas now owns 24,105 shares of the company’s stock valued at $69,000 after purchasing an additional 12,495 shares during the last quarter. 56.56% of the stock is currently owned by institutional investors and hedge funds.

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.