MiMedx Group (NASDAQ:MDXG) Trading 5% Higher

MiMedx Group, Inc. (NASDAQ:MDXG) shares rose 5% during mid-day trading on Wednesday . The company traded as high as $6.72 and last traded at $6.70. Approximately 154,644 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 753,283 shares. The stock had previously closed at $6.38.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDXG. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of MiMedx Group in a research report on Thursday, August 1st. StockNews.com upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Craig Hallum dropped their target price on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Trading Down 3.4 %

The company has a fifty day simple moving average of $6.83 and a two-hundred day simple moving average of $7.17. The stock has a market capitalization of $909.24 million, a P/E ratio of 14.02 and a beta of 1.98. The company has a quick ratio of 3.22, a current ratio of 3.85 and a debt-to-equity ratio of 0.11.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $88.44 million. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. On average, sell-side analysts expect that MiMedx Group, Inc. will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of MiMedx Group by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 20,735 shares of the company’s stock worth $160,000 after buying an additional 1,631 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of MiMedx Group by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 34,343 shares of the company’s stock valued at $233,000 after purchasing an additional 2,329 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of MiMedx Group by 23.1% during the 4th quarter. Victory Capital Management Inc. now owns 14,916 shares of the company’s stock valued at $131,000 after purchasing an additional 2,796 shares during the last quarter. New York State Common Retirement Fund increased its position in MiMedx Group by 6.9% during 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in MiMedx Group by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,623 shares of the company’s stock valued at $316,000 after purchasing an additional 3,222 shares during the last quarter. 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.