MiMedx Group (MDXG) Raised to Hold at BidaskClub

BidaskClub upgraded shares of MiMedx Group (NASDAQ:MDXG) from a sell rating to a hold rating in a report issued on Wednesday morning.

MDXG has been the subject of a number of other research reports. Piper Jaffray Companies reiterated a buy rating and issued a $18.00 price target on shares of MiMedx Group in a report on Friday, November 24th. Needham & Company LLC reiterated a buy rating and issued a $21.00 price target on shares of MiMedx Group in a report on Tuesday, November 14th. Craig Hallum reiterated a buy rating on shares of MiMedx Group in a report on Tuesday, February 27th. ValuEngine downgraded shares of MiMedx Group from a hold rating to a sell rating in a report on Thursday, March 1st. Finally, Lake Street Capital set a $18.00 price target on shares of MiMedx Group and gave the company a buy rating in a report on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. MiMedx Group has a consensus rating of Hold and a consensus target price of $14.75.

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Shares of MiMedx Group (NASDAQ MDXG) traded down $0.50 on Wednesday, hitting $7.42. 7,031,227 shares of the stock were exchanged, compared to its average volume of 5,693,082. The stock has a market cap of $823.88, a P/E ratio of 23.94 and a beta of 1.65. MiMedx Group has a 1-year low of $6.05 and a 1-year high of $18.25.

MiMedx Group declared that its board has authorized a stock buyback plan on Wednesday, December 13th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the medical equipment provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in MiMedx Group by 1.1% during the 4th quarter. BlackRock Inc. now owns 13,607,325 shares of the medical equipment provider’s stock valued at $171,588,000 after acquiring an additional 147,214 shares in the last quarter. Consonance Capital Management LP purchased a new position in MiMedx Group during the 4th quarter valued at about $75,543,000. Millennium Management LLC increased its holdings in MiMedx Group by 11.5% during the 4th quarter. Millennium Management LLC now owns 2,193,907 shares of the medical equipment provider’s stock valued at $27,665,000 after acquiring an additional 226,663 shares in the last quarter. Atlantic Trust Group LLC increased its holdings in MiMedx Group by 2.6% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,490,411 shares of the medical equipment provider’s stock valued at $17,706,000 after acquiring an additional 37,937 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in MiMedx Group by 1,647.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,405,458 shares of the medical equipment provider’s stock valued at $17,723,000 after acquiring an additional 1,325,048 shares in the last quarter. Hedge funds and other institutional investors own 78.86% of the company’s stock.

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MiMedx Group Company Profile

MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.

Analyst Recommendations for MiMedx Group (NASDAQ:MDXG)

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