MiMedx Group (NASDAQ:MDXG) Stock Price Down 5.9% – Here’s What Happened

MiMedx Group, Inc (NASDAQ:MDXG) was down 5.9% during mid-day trading on Thursday . The company traded as low as $3.55 and last traded at $3.5660. Approximately 623,967 shares changed hands during trading, a decline of 51% from the average daily volume of 1,279,080 shares. The stock had previously closed at $3.79.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MDXG. Weiss Ratings lowered MiMedx Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Craig Hallum lowered their target price on MiMedx Group from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Citizens Jmp lowered their target price on MiMedx Group from $7.00 to $6.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Citigroup assumed coverage on MiMedx Group in a research note on Monday, February 23rd. They issued a “market outperform” rating for the company. Finally, Cantor Fitzgerald decreased their price target on MiMedx Group from $12.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.50.

MiMedx Group Stock Performance

The firm has a fifty day moving average of $3.77 and a 200-day moving average of $5.31. The firm has a market cap of $539.20 million, a P/E ratio of 18.10 and a beta of 1.46. The company has a quick ratio of 4.81, a current ratio of 5.39 and a debt-to-equity ratio of 0.07.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $58.99 million for the quarter, compared to analysts’ expectations of $65.80 million. MiMedx Group had a return on equity of 21.03% and a net margin of 7.88%. Research analysts predict that MiMedx Group, Inc will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MiMedx Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDXG. Sunbelt Securities Inc. bought a new position in MiMedx Group during the first quarter worth about $42,000. Kemnay Advisory Services Inc. bought a new position in MiMedx Group during the fourth quarter worth about $48,000. State of Alaska Department of Revenue bought a new position in MiMedx Group during the third quarter worth about $54,000. Y Intercept Hong Kong Ltd bought a new position in MiMedx Group during the first quarter worth about $65,000. Finally, Headlands Technologies LLC bought a new position in MiMedx Group during the second quarter worth about $72,000. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Company Profile

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.