Cantor Fitzgerald Reaffirms "Overweight" Rating for MiMedx Group (NASDAQ:MDXG)

Cantor Fitzgerald reiterated their overweight rating on shares of MiMedx Group (NASDAQ:MDXG - Free Report) in a report published on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $11.00 target price on the stock.

Separately, Wall Street Zen upgraded MiMedx Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th.

MiMedx Group Stock Up 6.0%

NASDAQ:MDXG traded up $0.38 during mid-day trading on Tuesday, reaching $6.71. The company's stock had a trading volume of 1,377,238 shares, compared to its average volume of 698,219. The company has a quick ratio of 4.13, a current ratio of 4.70 and a debt-to-equity ratio of 0.09. MiMedx Group has a 1 year low of $5.47 and a 1 year high of $10.14. The stock has a fifty day moving average of $6.51 and a 200-day moving average of $7.45. The firm has a market capitalization of $991.08 million, a PE ratio of 24.85 and a beta of 1.76.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. MiMedx Group had a net margin of 11.40% and a return on equity of 22.70%. The business had revenue of $88.21 million during the quarter, compared to analyst estimates of $86.32 million. Equities research analysts forecast that MiMedx Group will post 0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Joseph H. Capper purchased 200,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $6.34 per share, with a total value of $1,268,000.00. Following the completion of the transaction, the chief executive officer owned 529,530 shares in the company, valued at $3,357,220.20. This represents a 60.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MDXG. First Light Asset Management LLC acquired a new stake in MiMedx Group in the fourth quarter worth about $32,168,000. Millennium Management LLC raised its position in shares of MiMedx Group by 93.9% in the 1st quarter. Millennium Management LLC now owns 1,230,984 shares of the company's stock valued at $9,355,000 after purchasing an additional 596,016 shares during the last quarter. Meros Investment Management LP raised its position in shares of MiMedx Group by 107.7% in the 1st quarter. Meros Investment Management LP now owns 820,605 shares of the company's stock valued at $6,237,000 after purchasing an additional 425,531 shares during the last quarter. Norges Bank acquired a new stake in MiMedx Group in the 4th quarter worth approximately $4,020,000. Finally, JPMorgan Chase & Co. grew its position in MiMedx Group by 133.1% during the 4th quarter. JPMorgan Chase & Co. now owns 693,106 shares of the company's stock worth $6,668,000 after purchasing an additional 395,739 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

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.