MiMedx Group (NASDAQ:MDXG) Upgraded at 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 Thursday.

Several other equities research analysts also recently weighed in on the stock. Craig Hallum decreased 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price objective on shares of MiMedx Group in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $12.00.

MiMedx Group Stock Up 1.2 %

Shares of NASDAQ MDXG opened at $6.93 on Thursday. The stock has a market cap of $1.02 billion, a PE ratio of 12.60 and a beta of 1.94. MiMedx Group has a 52-week low of $5.47 and a 52-week high of $9.27. The business has a 50-day moving average price of $6.06 and a 200 day moving average price of $6.67. The company has a quick ratio of 3.22, a current ratio of 4.10 and a debt-to-equity ratio of 0.10.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $87.21 million during the quarter, compared to the consensus estimate of $88.44 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. Equities research analysts forecast that MiMedx Group will post 0.26 earnings per share for the current year.

Institutional Trading of MiMedx Group

Hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its position in MiMedx Group by 299.9% in the third quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock worth $6,074,000 after acquiring an additional 770,744 shares in the last quarter. Millennium Management LLC increased its holdings in MiMedx Group by 339.9% in the second quarter. Millennium Management LLC now owns 889,446 shares of the company’s stock valued at $6,164,000 after buying an additional 687,267 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MiMedx Group by 47.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,822 shares of the company’s stock valued at $8,958,000 after acquiring an additional 413,443 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in shares of MiMedx Group by 6.6% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock worth $28,879,000 after acquiring an additional 258,700 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of MiMedx Group in the 2nd quarter worth approximately $988,000. 79.15% of the stock is 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.