MiMedx Group (NASDAQ:MDXG) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of MiMedx Group (NASDAQ:MDXG) from a strong-buy rating to a buy rating in a research note released on Friday.

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

MiMedx Group Stock Down 4.0%

MDXG stock opened at $7.12 on Friday. The firm has a market cap of $1.05 billion, a PE ratio of 12.95 and a beta of 1.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. The firm’s fifty day moving average is $7.28 and its 200 day moving average is $8.15. MiMedx Group has a one year low of $5.47 and a one year high of $10.14.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $88.21 million for the quarter, compared to analyst estimates of $86.32 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. On average, research analysts forecast that MiMedx Group will post 0.3 EPS for the current year.

Insider Buying and Selling at MiMedx Group

In other news, insider Kimberly Maersk-Moller sold 4,106 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $32,396.34. Following the transaction, the insider now directly owns 310,836 shares of the company’s stock, valued at approximately $2,452,496.04. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO William Frank Iv Hulse sold 81,446 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $7.80, for a total transaction of $635,278.80. Following the completion of the transaction, the chief accounting officer now directly owns 494,774 shares in the company, valued at approximately $3,859,237.20. This represents a 14.13% 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 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On MiMedx Group

Several hedge funds and other institutional investors have recently modified their holdings of MDXG. Barclays PLC lifted its stake in shares of MiMedx Group by 163.9% in the third quarter. Barclays PLC now owns 262,449 shares of the company’s stock worth $1,550,000 after buying an additional 163,005 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of MiMedx Group by 265.4% in the third quarter. JPMorgan Chase & Co. now owns 297,367 shares of the company’s stock worth $1,757,000 after buying an additional 215,995 shares in the last quarter. Fiduciary Alliance LLC purchased a new position in shares of MiMedx Group in the fourth quarter worth about $160,000. SG Americas Securities LLC increased its position in MiMedx Group by 79.9% during the fourth quarter. SG Americas Securities LLC now owns 83,385 shares of the company’s stock worth $802,000 after purchasing an additional 37,031 shares during the last quarter. Finally, Savant Capital LLC acquired a new stake in MiMedx Group during the fourth quarter worth about $100,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

MiMedx Group Company Profile

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.