MiMedx Group (NASDAQ:MDXG) Price Target Lowered to $8.50 at HC Wainwright

MiMedx Group (NASDAQ:MDXG) had its price target cut by HC Wainwright from $20.00 to $8.50 in a report released on Tuesday, PriceTargets.com reports. They currently have a buy rating on the stock.

Separately, Northland Securities started coverage on MiMedx Group in a research report on Monday, July 26th. They issued an outperform rating and a $23.00 price target for the company.

NASDAQ:MDXG opened at $5.57 on Tuesday. MiMedx Group has a 12 month low of $5.32 and a 12 month high of $15.99. The stock has a 50 day moving average of $12.53 and a two-hundred day moving average of $11.32. The firm has a market cap of $623.56 million, a P/E ratio of -7.23 and a beta of 1.65.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The business had revenue of $68.17 million during the quarter, compared to analyst estimates of $58.77 million. MiMedx Group had a negative return on equity of 1,262.51% and a negative net margin of 31.30%. Analysts anticipate that MiMedx Group will post -0.28 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in MiMedx Group by 307.0% in the second quarter. BlackRock Inc. now owns 7,219,013 shares of the company’s stock valued at $90,307,000 after acquiring an additional 5,445,310 shares during the last quarter. Vanguard Group Inc. lifted its holdings in MiMedx Group by 7.4% in the second quarter. Vanguard Group Inc. now owns 4,425,375 shares of the company’s stock valued at $55,361,000 after acquiring an additional 303,824 shares during the last quarter. State Street Corp lifted its holdings in MiMedx Group by 4,717.3% in the second quarter. State Street Corp now owns 3,381,766 shares of the company’s stock valued at $42,306,000 after acquiring an additional 3,311,566 shares during the last quarter. Millennium Management LLC lifted its holdings in MiMedx Group by 1,208.2% in the first quarter. Millennium Management LLC now owns 1,881,280 shares of the company’s stock valued at $19,377,000 after acquiring an additional 1,737,478 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in MiMedx Group by 100.8% in the second quarter. Geode Capital Management LLC now owns 1,746,991 shares of the company’s stock valued at $21,854,000 after acquiring an additional 877,045 shares during the last quarter. Institutional investors and hedge funds own 50.83% of the company’s stock.

About MiMedx Group

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 matri derived from the placental disc and other placental tissue.

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