MiMedx Group, Inc. (NASDAQ:MDXG) Receives Average Rating of “Buy” from Brokerages

MiMedx Group, Inc. (NASDAQ:MDXG) has been assigned a consensus rating of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $12.00.

MDXG has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of MiMedx Group in a report on Thursday, August 1st. Craig Hallum decreased their price target on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com upgraded MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th.

MiMedx Group Stock Performance

Shares of MDXG opened at $5.83 on Monday. MiMedx Group has a 12-month low of $5.57 and a 12-month high of $9.27. The stock has a market cap of $860.53 million, a P/E ratio of 13.25 and a beta of 1.98. The company has a current ratio of 3.85, a quick ratio of 3.22 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $6.53 and a two-hundred day moving average of $6.93.

MiMedx Group (NASDAQ:MDXG) last announced its earnings results on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $87.21 million during the quarter, compared to the consensus estimate of $88.44 million. MiMedx Group had a net margin of 23.63% and a return on equity of 34.24%. As a group, research analysts predict that MiMedx Group will post 0.26 EPS for the current fiscal year.

Institutional Trading of MiMedx Group

A number of hedge funds and other institutional investors have recently modified their holdings of MDXG. ProShare Advisors LLC grew its stake in MiMedx Group by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 20,735 shares of the company’s stock valued at $160,000 after purchasing an additional 1,631 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of MiMedx Group by 7.3% during the second quarter. Hsbc Holdings PLC now owns 34,343 shares of the company’s stock worth $233,000 after buying an additional 2,329 shares in the last quarter. Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 2,796 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in MiMedx Group by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,623 shares of the company’s stock valued at $316,000 after acquiring an additional 3,222 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in MiMedx Group by 1.1% during the 2nd quarter. Marshall Wace LLP now owns 298,818 shares of the company’s stock worth $2,071,000 after acquiring an additional 3,223 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.