MiMedx Group (NASDAQ:MDXG) Downgraded to Buy Rating by Wall Street Zen

Key Points

• MiMedx Group was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the company's stock.
• Despite the downgrade, MiMedx Group received an "overweight" rating from Cantor Fitzgerald and has an average target price of $12.00 among analysts.
• Large institutional investors have increased their holdings in MiMedx Group, with 79.15% of the stock owned by hedge funds and other institutional investors.

MiMedx Group (NASDAQ:MDXG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Several other research analysts have also commented on MDXG. Weiss Ratings reissued a "hold (c)" rating on shares of MiMedx Group in a report on Wednesday, October 8th. Cantor Fitzgerald lifted their target price on shares of MiMedx Group from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, MiMedx Group presently has an average rating of "Moderate Buy" and an average target price of $12.00.

MiMedx Group Trading Up 1.8%

MiMedx Group stock opened at $6.76 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.90 and a current ratio of 4.39. MiMedx Group has a fifty-two week low of $5.69 and a fifty-two week high of $10.14. The stock has a market cap of $1.00 billion, a P/E ratio of 32.19 and a beta of 1.73. The firm's fifty day moving average price is $6.99 and its 200-day moving average price is $6.78.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its earnings results on Monday, November 13th. The company reported ($0.03) EPS for the quarter. MiMedx Group had a return on equity of 23.03% and a net margin of 8.84%.The business had revenue of $67.69 million for the quarter. Equities research analysts forecast that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CWM LLC boosted its stake in shares of MiMedx Group by 63.8% in the 2nd quarter. CWM LLC now owns 4,857 shares of the company's stock valued at $30,000 after purchasing an additional 1,892 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in MiMedx Group by 3.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 55,157 shares of the company's stock worth $419,000 after purchasing an additional 2,056 shares during the period. Rhumbline Advisers lifted its stake in MiMedx Group by 1.4% in the first quarter. Rhumbline Advisers now owns 177,156 shares of the company's stock worth $1,346,000 after purchasing an additional 2,436 shares during the last quarter. HighMark Wealth Management LLC lifted its stake in MiMedx Group by 5.4% in the third quarter. HighMark Wealth Management LLC now owns 55,878 shares of the company's stock worth $390,000 after purchasing an additional 2,878 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its position in MiMedx Group by 3.6% during the second quarter. SkyView Investment Advisors LLC now owns 87,734 shares of the company's stock valued at $523,000 after buying an additional 3,032 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.

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