MiMedx Group (NASDAQ:MDXG) Shares Gap Up After Earnings Beat

Key Points

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MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report)'s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $6.52, but opened at $7.60. MiMedx Group shares last traded at $7.67, with a volume of 749,489 shares.

The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. The company had revenue of $98.61 million during the quarter, compared to analyst estimates of $90.79 million. MiMedx Group had a net margin of 8.84% and a return on equity of 23.03%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Cantor Fitzgerald boosted their price target on MiMedx Group from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday. Wall Street Zen raised MiMedx Group from a "hold" rating to a "strong-buy" rating in a research note on Saturday.

Institutional Investors Weigh In On MiMedx Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of MiMedx Group by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,802,364 shares of the company's stock worth $17,338,000 after acquiring an additional 238,075 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in MiMedx Group in the fourth quarter worth about $450,000. Raymond James Financial Inc. bought a new position in shares of MiMedx Group during the fourth quarter valued at approximately $887,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 2,837 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of MiMedx Group by 10.1% in the 4th quarter. Millennium Management LLC now owns 634,968 shares of the company's stock worth $6,108,000 after purchasing an additional 58,052 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

MiMedx Group Price Performance

The company has a current ratio of 4.39, a quick ratio of 3.90 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.06 billion, a PE ratio of 34.05 and a beta of 1.79. The firm has a 50 day moving average of $6.44 and a two-hundred day moving average of $7.24.

MiMedx Group Company Profile

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.