MiMedx Group, Inc (NASDAQ:MDXG) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• MiMedx Group has a “Moderate Buy” consensus rating from seven analysts, with six buys and one sell. The average 12-month price target is $8.14, substantially above the stock’s reported $3.88 price.
• Institutional ownership is high at 79.15%, with BlackRock, Nantahala Capital Management, and Paradigm Capital Management among investors establishing new positions.
• The company reported a quarterly loss of $0.01 per share and revenue of $62.28 million, below analysts’ $68.56 million estimate; analysts expect a full-year loss of approximately $0.10 per share.

Shares of MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.14.

A number of equities analysts have recently weighed in on the company. Mizuho set a $7.00 target price on MiMedx Group in a research report on Thursday. Cantor Fitzgerald reissued an "overweight" rating on shares of MiMedx Group in a research report on Tuesday, September 15th. Seaport Research Partners lowered shares of MiMedx Group to a "neutral" rating in a research note on Monday, August 17th. Raymond James Financial set a $8.00 price objective on shares of MiMedx Group in a report on Monday, August 17th. Finally, Craig Hallum raised their price objective on shares of MiMedx Group from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Thursday, August 27th.

Institutional Investors Weigh In On MiMedx Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of MiMedx Group in the 2nd quarter worth $46,795,000. Nantahala Capital Management LLC bought a new position in shares of MiMedx Group during the second quarter valued at about $18,355,075. Paradigm Capital Management Inc. NY bought a new position in shares of MiMedx Group during the second quarter valued at about $15,681,000. Renaissance Technologies LLC lifted its position in shares of MiMedx Group by 22.4% during the first quarter. Renaissance Technologies LLC now owns 3,019,871 shares of the company's stock valued at $11,928,000 after purchasing an additional 552,806 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of MiMedx Group by 8.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,694,002 shares of the company's stock valued at $10,640,000 after purchasing an additional 214,633 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

MiMedx Group Stock Performance

MDXG stock opened at $3.88 on Friday. The stock's 50 day simple moving average is $4.49 and its 200 day simple moving average is $4.29. The company has a market cap of $565.55 million, a P/E ratio of -29.85 and a beta of 1.18. MiMedx Group has a fifty-two week low of $3.03 and a fifty-two week high of $7.97.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $62.28 million during the quarter, compared to analyst estimates of $68.56 million. MiMedx Group had a negative net margin of 6.32% and a positive return on equity of 2.39%. Equities analysts predict that MiMedx Group will post -0.10 earnings per share for the current year.

About MiMedx Group

MiMedx Group, Inc NASDAQ: MDXG is a biotechnology company focused on developing and commercializing human placental tissue allografts for wound care and other medical applications. The company's products are derived from donated placental tissue and are processed using its proprietary PURION technology platform.

MiMedx's portfolio includes tissue-based products such as EPIFIX and EPICORD, which are used primarily by healthcare professionals in the management of chronic and acute wounds, including diabetic foot ulcers and other hard-to-heal wounds.

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