Cantor Fitzgerald Initiates Coverage on MiMedx Group (NASDAQ:MDXG)

Investment analysts at Cantor Fitzgerald assumed coverage on shares of MiMedx Group (NASDAQ:MDXG) in a research note issued on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $11.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 61.29% from the company’s previous close.

MDXG has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of MiMedx Group in a report on Wednesday, May 1st. StockNews.com upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 3rd. Finally, Lake Street Capital began coverage on shares of MiMedx Group in a research note on Thursday, March 7th. They set a “buy” rating and a $12.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.00.

MiMedx Group Stock Up 0.6 %

MiMedx Group stock opened at $6.82 on Tuesday. The company has a market cap of $1.01 billion, a P/E ratio of 15.50 and a beta of 1.99. MiMedx Group has a 1-year low of $5.57 and a 1-year high of $9.27. The company has a fifty day simple moving average of $7.17 and a 200 day simple moving average of $7.62. The company has a current ratio of 3.29, a quick ratio of 2.71 and a debt-to-equity ratio of 0.12.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $84.71 million during the quarter, compared to analysts’ expectations of $79.36 million. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. Research analysts anticipate that MiMedx Group will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MiMedx Group

Hedge funds have recently bought and sold shares of the company. Teza Capital Management LLC purchased a new stake in shares of MiMedx Group during the 3rd quarter valued at about $108,000. Scotia Capital Inc. purchased a new position in shares of MiMedx Group during the third quarter valued at $130,000. Cannell Capital LLC grew its stake in MiMedx Group by 106.7% in the third quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock valued at $16,576,000 after purchasing an additional 1,173,506 shares during the last quarter. Citigroup Inc. grew its stake in MiMedx Group by 30.2% in the third quarter. Citigroup Inc. now owns 94,646 shares of the company’s stock valued at $690,000 after purchasing an additional 21,976 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in MiMedx Group by 4.1% in the third quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock valued at $46,927,000 after purchasing an additional 250,812 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.