MiMedx Group (NASDAQ:MDXG) Stock Rating Upgraded by StockNews.com

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

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald restated an overweight rating and issued a $11.00 price objective on shares of MiMedx Group in a research report on Thursday, August 1st. Craig Hallum lowered their price target on shares of MiMedx Group from $14.00 to $12.00 and set a buy rating on the stock in a report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MiMedx Group presently has a consensus rating of Buy and an average target price of $12.00.

MiMedx Group Stock Down 3.6 %

MDXG stock opened at $6.15 on Wednesday. MiMedx Group has a 12 month low of $5.57 and a 12 month high of $9.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.85 and a quick ratio of 3.22. The company has a market capitalization of $907.76 million, a P/E ratio of 13.98 and a beta of 1.98. The firm’s fifty day simple moving average is $6.81 and its 200-day simple moving average is $7.16.

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, meeting the consensus estimate of $0.08. The business 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%. As a group, equities research analysts forecast that MiMedx Group will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On MiMedx Group

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in shares of MiMedx Group during the first quarter worth about $27,000. Isthmus Partners LLC boosted its holdings in MiMedx Group by 30.4% in the 2nd quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock worth $27,000 after buying an additional 91,714 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in MiMedx Group during the 2nd quarter worth approximately $40,000. Quest Partners LLC acquired a new position in shares of MiMedx Group during the second quarter valued at approximately $81,000. Finally, Entropy Technologies LP purchased a new position in shares of MiMedx Group in the first quarter valued at approximately $99,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.