MiMedx Group (NASDAQ:MDXG) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of MiMedx Group (NASDAQ:MDXG) from a hold rating to a buy rating in a report issued on Friday morning.

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

MiMedx Group Price Performance

Shares of MDXG stock opened at $6.49 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. MiMedx Group has a 52 week low of $5.47 and a 52 week high of $10.14. The stock has a market capitalization of $958.59 million, a PE ratio of 11.80 and a beta of 1.82. The stock’s fifty day moving average is $6.83 and its 200-day moving average is $8.05.

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

Insider Transactions at MiMedx Group

In related news, insider Kimberly Maersk-Moller sold 4,106 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total transaction 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. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William Frank Iv Hulse sold 54,596 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $430,762.44. Following the completion of the transaction, the chief accounting officer now directly owns 440,178 shares in the company, valued at approximately $3,473,004.42. This represents a 11.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 141,907 shares of company stock worth $1,112,580 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in MiMedx Group in the 4th quarter valued at $28,000. Virtus Fund Advisers LLC acquired a new position in MiMedx Group in the 4th quarter valued at $35,000. Van ECK Associates Corp acquired a new position in MiMedx Group in the 4th quarter valued at $40,000. Virtus Advisers LLC bought a new stake in shares of MiMedx Group during the 1st quarter valued at $40,000. Finally, Tower Research Capital LLC TRC lifted its position 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 valued at $63,000 after acquiring an additional 2,837 shares during the period. 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.