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

StockNews.com downgraded shares of MiMedx Group (NASDAQ:MDXG) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

MDXG has been the subject of several other reports. HC Wainwright restated a buy rating and set a $11.00 price objective on shares of MiMedx Group in a research report on Wednesday, May 1st. Lake Street Capital began coverage on shares of MiMedx Group in a research report on Thursday, March 7th. They issued a buy rating and a $12.00 target price on the stock. Finally, Mizuho upped their price target on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a buy rating in a report on Friday, March 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $12.25.

MiMedx Group Trading Down 3.3 %

Shares of MiMedx Group stock opened at $7.13 on Friday. The company has a quick ratio of 2.71, a current ratio of 3.29 and a debt-to-equity ratio of 0.12. MiMedx Group has a 12-month low of $5.47 and a 12-month high of $9.27. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 16.20 and a beta of 1.44. The firm’s 50-day moving average price is $7.35 and its two-hundred day moving average price is $7.58.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. The firm had revenue of $86.83 million for the quarter, compared to analyst estimates of $85.58 million. On average, analysts forecast that MiMedx Group will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at MiMedx Group

In other MiMedx Group news, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $8.07, for a total transaction of $125,028.51. Following the completion of the sale, the chief operating officer now directly owns 416,321 shares in the company, valued at approximately $3,359,710.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Ricci S. Whitlow sold 15,493 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $8.07, for a total transaction of $125,028.51. Following the transaction, the chief operating officer now directly owns 416,321 shares of the company’s stock, valued at approximately $3,359,710.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO William Frank Iv Hulse sold 20,381 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total transaction of $162,028.95. Following the sale, the chief accounting officer now owns 479,959 shares of the company’s stock, valued at approximately $3,815,674.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,145 shares of company stock worth $409,378. Company insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On MiMedx Group

Institutional investors have recently added to or reduced their stakes in the company. AJOVista LLC bought a new position in MiMedx Group in the 4th quarter valued at $25,000. DekaBank Deutsche Girozentrale purchased a new stake in MiMedx Group during the third quarter worth about $38,000. Robeco Institutional Asset Management B.V. bought a new stake in MiMedx Group in the third quarter worth about $74,000. M&T Bank Corp bought a new stake in MiMedx Group in the third quarter worth about $75,000. Finally, E Fund Management Co. Ltd. purchased a new position in MiMedx Group in the third quarter valued at about $84,000. 79.15% of the stock is owned by institutional investors.

About MiMedx Group

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.