MiMedx Group (NASDAQ:MDXG) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of MiMedx Group (NASDAQ:MDXG) from a buy rating to a strong-buy rating in a research report released on Thursday.

A number of other analysts have also recently weighed in on MDXG. Craig Hallum reduced their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of MiMedx Group in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $12.00.

MiMedx Group Stock Up 1.0 %

NASDAQ MDXG traded up $0.07 during trading on Thursday, hitting $6.92. 70,193 shares of the company traded hands, compared to its average volume of 705,982. The company has a market capitalization of $1.02 billion, a P/E ratio of 12.45 and a beta of 1.97. The business has a fifty day simple moving average of $6.06 and a 200 day simple moving average of $6.66. MiMedx Group has a 12 month low of $5.47 and a 12 month high of $9.27. The company has a current ratio of 3.85, a quick ratio of 3.22 and a debt-to-equity ratio of 0.11.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. MiMedx Group had a return on equity of 27.28% and a net margin of 23.86%. The firm had revenue of $87.21 million during the quarter, compared to analyst estimates of $88.44 million. As a group, sell-side analysts predict that MiMedx Group will post 0.26 EPS for the current year.

Hedge Funds Weigh In On MiMedx Group

Several large investors have recently bought and sold shares of the stock. Isthmus Partners LLC grew its holdings in shares of MiMedx Group by 30.4% during the 2nd quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock worth $27,000 after purchasing an additional 91,714 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of MiMedx Group in the first quarter valued at $27,000. Blue Trust Inc. bought a new position in MiMedx Group in the third quarter worth $30,000. Point72 Asset Management L.P. acquired a new stake in MiMedx Group during the second quarter worth $40,000. Finally, Quest Partners LLC acquired a new stake in MiMedx Group during the second quarter worth $81,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.