Brokerages Set MiMedx Group, Inc. (NASDAQ:MDXG) Target Price at $12.25

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) have been assigned an average rating of “Buy” from the four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $12.25.

A number of brokerages have recently commented on MDXG. Mizuho raised their target price on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of MiMedx Group in a research report on Wednesday, May 1st. StockNews.com downgraded shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Lake Street Capital began coverage on MiMedx Group in a research report on Thursday, March 7th. They issued a “buy” rating and a $12.00 price target for the company.

Insider Activity at MiMedx Group

In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 479,959 shares of the company’s stock, valued at approximately $3,815,674.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On MiMedx Group

Several large investors have recently made changes to their positions in the business. ProShare Advisors LLC grew its stake in MiMedx Group by 8.5% in the first quarter. ProShare Advisors LLC now owns 20,735 shares of the company’s stock valued at $160,000 after purchasing an additional 1,631 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MiMedx Group by 4.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,329 shares of the company’s stock worth $411,000 after buying an additional 2,627 shares during the last quarter. Victory Capital Management Inc. grew its holdings in MiMedx Group by 23.1% in the 4th quarter. Victory Capital Management Inc. now owns 14,916 shares of the company’s stock valued at $131,000 after buying an additional 2,796 shares during the last quarter. AJOVista LLC bought a new position in MiMedx Group during the fourth quarter worth $25,000. Finally, New York State Common Retirement Fund grew its position in MiMedx Group by 6.9% in the 4th quarter. New York State Common Retirement Fund now owns 49,419 shares of the company’s stock worth $433,000 after purchasing an additional 3,204 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Stock Down 1.0 %

MDXG opened at $7.77 on Tuesday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.66 and a beta of 1.44. The firm has a 50 day moving average price of $7.22 and a 200-day moving average price of $7.70. MiMedx Group has a twelve month low of $5.47 and a twelve month high of $9.27. 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 (NASDAQ:MDXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $84.71 million during the quarter, compared to analysts’ expectations of $79.36 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. Equities research analysts forecast that MiMedx Group will post 0.34 earnings per share for the current year.

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.