StockNews.com Downgrades MiMedx Group (NASDAQ:MDXG) to Buy

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

Several other equities research analysts have also weighed in on the company. 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. Craig Hallum dropped their price objective 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.00.

MiMedx Group Stock Up 1.2 %

NASDAQ:MDXG opened at $7.53 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $6.13 and a 200-day moving average of $6.71. The firm has a market capitalization of $1.11 billion, a PE ratio of 13.69 and a beta of 1.94. MiMedx Group has a 52 week low of $5.47 and a 52 week high of $9.27.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Paradigm Capital Management Inc. NY increased its stake in shares of MiMedx Group by 6.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock valued at $28,879,000 after acquiring an additional 258,700 shares during the period. Dimensional Fund Advisors LP increased 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 purchasing an additional 413,443 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of MiMedx Group by 299.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock worth $6,074,000 after buying an additional 770,744 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of MiMedx Group by 5.3% in the third quarter. Royce & Associates LP now owns 972,853 shares of the company’s stock valued at $5,750,000 after buying an additional 48,539 shares during the period. Finally, Millennium Management LLC boosted its stake in MiMedx Group by 339.9% during 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. 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.