MiMedx Group (NASDAQ:MDXG) Shares Gap Down to $6.43

MiMedx Group, Inc. (NASDAQ:MDXG) gapped down before the market opened on Thursday . The stock had previously closed at $6.43, but opened at $6.10. MiMedx Group shares last traded at $5.94, with a volume of 538,502 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDXG. Lake Street Capital began coverage on shares of MiMedx Group in a report on Thursday, March 7th. They set a “buy” rating and a $12.00 price objective for the company. Mizuho boosted their price objective on shares of MiMedx Group from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday, March 1st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MiMedx Group has an average rating of “Buy” and an average target price of $12.25.

MiMedx Group Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 3.57 and a quick ratio of 3.11. The company’s 50-day simple moving average is $7.47 and its 200-day simple moving average is $7.56. The stock has a market capitalization of $925.33 million, a P/E ratio of 19.59 and a beta of 1.32.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). The company had revenue of $86.83 million during the quarter, compared to the consensus estimate of $85.58 million. MiMedx Group had a net margin of 14.49% and a return on equity of 41.12%. As a group, sell-side analysts expect that MiMedx Group, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity

In other news, CAO William Frank Iv Hulse sold 20,381 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the transaction, the chief accounting officer now directly owns 479,959 shares of the company’s stock, valued at $3,815,674.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Ricci S. Whitlow sold 15,271 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total value of $122,320.71. Following the transaction, the chief operating officer now directly owns 401,050 shares of the company’s stock, valued at $3,212,410.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William Frank Iv Hulse sold 20,381 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total transaction of $162,028.95. Following the completion of the transaction, the chief accounting officer now directly owns 479,959 shares in the company, valued at $3,815,674.05. The disclosure for this sale can be found here. Insiders have sold 51,145 shares of company stock valued at $409,378 over the last ninety days. 19.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MiMedx Group

Institutional investors and hedge funds have recently modified their holdings of the business. AJOVista LLC acquired a new position in shares of MiMedx Group in the fourth quarter valued at about $25,000. DekaBank Deutsche Girozentrale acquired a new position in shares of MiMedx Group in the third quarter valued at about $38,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of MiMedx Group in the third quarter valued at about $74,000. M&T Bank Corp acquired a new stake in MiMedx Group during the third quarter worth about $75,000. Finally, E Fund Management Co. Ltd. acquired a new stake in MiMedx Group during the third quarter worth about $84,000. 79.15% of the stock is currently 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.