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

MiMedx Group (NASDAQ:MDXG) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of MiMedx Group in a research note on Thursday, February 27th.

MiMedx Group Stock Down 3.4 %

Shares of NASDAQ:MDXG traded down $0.25 during midday trading on Friday, hitting $7.06. 572,197 shares of the company’s stock were exchanged, compared to its average volume of 695,426. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53. MiMedx Group has a 12 month low of $5.47 and a 12 month high of $10.14. The company has a market cap of $1.04 billion, a PE ratio of 12.84 and a beta of 1.74. The stock has a 50 day moving average price of $8.11 and a 200-day moving average price of $7.94.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. The firm had revenue of $92.91 million during the quarter, compared to analyst estimates of $89.42 million. On average, sell-side analysts anticipate that MiMedx Group will post 0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO William Frank Iv Hulse sold 54,596 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total transaction of $430,762.44. Following the completion of the sale, the chief accounting officer now directly owns 440,178 shares of the company’s stock, valued at $3,473,004.42. This trade represents a 11.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $7.89, for a total transaction of $32,396.34. Following the completion of the transaction, the insider now directly owns 310,836 shares in the company, valued at $2,452,496.04. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,018 shares of company stock valued at $1,130,312 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MiMedx Group

Several large investors have recently modified their holdings of the stock. IMG Wealth Management Inc. purchased a new position in MiMedx Group in the fourth quarter valued at approximately $28,000. Virtus Fund Advisers LLC bought a new stake in shares of MiMedx Group in the fourth quarter valued at $35,000. Van ECK Associates Corp purchased a new position in shares of MiMedx Group during the 4th quarter valued at $40,000. Tower Research Capital LLC TRC grew its stake in shares of MiMedx Group by 77.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock worth $63,000 after acquiring an additional 2,837 shares during the period. Finally, Point72 DIFC Ltd increased its holdings in MiMedx Group by 127.6% in the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock worth $45,000 after acquiring an additional 4,275 shares during the last quarter. Hedge funds and other 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.