MiMedx Group (NASDAQ:MDXG) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• MiMedx Group received an upgrade from a "hold" to a "strong-buy" rating by Wall Street Zen, indicating positive sentiment from analysts.
• Cantor Fitzgerald raised the company's target price from $11.00 to $12.00 and assigned an "overweight" rating, suggesting potential for growth.
• MiMedx Group reported earnings of $0.10 per share, exceeding analyst expectations, with revenues of $98.61 million during the last quarter.

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

Separately, Cantor Fitzgerald upped their price target on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st.

MiMedx Group Stock Performance

Shares of MDXG stock traded up $0.15 during trading hours on Friday, reaching $7.12. The company had a trading volume of 322,727 shares, compared to its average volume of 694,763. The business has a fifty day moving average price of $6.46 and a 200-day moving average price of $7.23. MiMedx Group has a one year low of $5.47 and a one year high of $10.14. The firm has a market cap of $1.05 billion, a PE ratio of 33.90 and a beta of 1.79. 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 (NASDAQ:MDXG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Sell-side analysts predict that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MiMedx Group

Several large investors have recently modified their holdings of MDXG. Paradigm Capital Management Inc. NY boosted its position in MiMedx Group by 0.5% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 4,686,231 shares of the company's stock valued at $45,082,000 after purchasing an additional 22,131 shares during the period. Cannell Capital LLC grew its position in MiMedx Group by 1.1% during the 4th quarter. Cannell Capital LLC now owns 3,639,545 shares of the company's stock worth $35,012,000 after acquiring an additional 40,235 shares during the last quarter. First Light Asset Management LLC lifted its stake in shares of MiMedx Group by 3.3% in the 1st quarter. First Light Asset Management LLC now owns 3,453,074 shares of the company's stock valued at $26,243,000 after purchasing an additional 109,213 shares during the period. Renaissance Technologies LLC grew its holdings in shares of MiMedx Group by 18.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,804,557 shares of the company's stock valued at $17,360,000 after acquiring an additional 280,327 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 238,075 shares during the period. 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.