MiMedx Group (NASDAQ:MDXG) Shares Gap Down - Time to Sell?

MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $6.80, but opened at $6.26. MiMedx Group shares last traded at $6.49, with a volume of 671,209 shares changing hands.

Analysts Set New Price Targets

MDXG has been the topic of a number of analyst reports. Wall Street Zen raised MiMedx Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price target on shares of MiMedx Group in a research note on Tuesday.

MiMedx Group Stock Down 4.5%

The company has a quick ratio of 4.13, a current ratio of 4.70 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $6.48 and a 200 day simple moving average of $7.41. The firm has a market capitalization of $948.23 million, a P/E ratio of 23.78 and a beta of 1.76.

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

Insider Buying and Selling

In related news, CEO Joseph H. Capper purchased 200,000 shares of MiMedx Group stock in a transaction on Friday, May 2nd. The stock was acquired at an average price of $6.34 per share, for a total transaction of $1,268,000.00. Following the completion of the transaction, the chief executive officer directly 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 document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Trading of MiMedx Group

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of MiMedx Group by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,802,364 shares of the company's stock worth $17,338,000 after purchasing an additional 238,075 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of MiMedx Group during the fourth quarter worth about $450,000. Raymond James Financial Inc. bought a new position in MiMedx Group during the fourth quarter valued at approximately $887,000. Tower Research Capital LLC TRC boosted its stake in MiMedx Group by 77.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock valued at $63,000 after buying an additional 2,837 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in MiMedx Group by 10.1% during the fourth quarter. Millennium Management LLC now owns 634,968 shares of the company's stock valued at $6,108,000 after buying an additional 58,052 shares during the last quarter. Hedge funds and other 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.