MiMedx Group (NASDAQ:MDXG) Stock Price Up 5%

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MDXG shares. StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of MiMedx Group in a research report on Thursday, August 1st. Finally, Craig Hallum reduced their price target on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.00.

MiMedx Group Trading Up 3.0 %

The stock has a market cap of $964.54 million, a price-to-earnings ratio of 15.32 and a beta of 1.98. The business has a 50-day simple moving average of $6.83 and a two-hundred day simple moving average of $7.18. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.85 and a quick ratio of 3.22.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $88.44 million. MiMedx Group had a return on equity of 34.24% and a net margin of 23.63%. Equities analysts forecast that MiMedx Group, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in shares of MiMedx Group by 6.9% in the fourth quarter. New York State Common Retirement Fund now owns 49,419 shares of the company’s stock valued at $433,000 after acquiring an additional 3,204 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of MiMedx Group by 1,577.5% during the fourth quarter. Russell Investments Group Ltd. now owns 525,059 shares of the company’s stock worth $4,605,000 after purchasing an additional 493,759 shares during the period. Victory Capital Management Inc. raised its position in shares of MiMedx Group by 23.1% in the fourth 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 in the last quarter. AJOVista LLC bought a new stake in shares of MiMedx Group in the fourth quarter valued at approximately $25,000. Finally, Charles Schwab Investment Management Inc. grew its position in MiMedx Group by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock worth $9,947,000 after buying an additional 57,704 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

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.