MiMedx Group (NASDAQ:MDXG) Trading 3.4% Higher Following Insider Buying Activity

MiMedx Group, Inc. (NASDAQ:MDXG - Get Free Report)'s share price shot up 3.4% during trading on Monday following insider buying activity. The stock traded as high as $6.44 and last traded at $6.54. 94,907 shares traded hands during trading, a decline of 86% from the average session volume of 677,012 shares. The stock had previously closed at $6.32.

Specifically, CEO Joseph H. Capper purchased 200,000 shares of MiMedx Group stock in a transaction dated Friday, May 2nd. The stock was purchased at an average cost of $6.34 per share, with a total value of $1,268,000.00. Following the transaction, the chief executive officer now owns 529,530 shares in the company, valued at approximately $3,357,220.20. The trade was a 60.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

MDXG has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 target price on shares of MiMedx Group in a research note on Thursday, February 27th. StockNews.com cut shares of MiMedx Group from a "strong-buy" rating to a "buy" rating in a research report on Friday.

MiMedx Group Stock Down 4.0 %

The company has a 50-day moving average of $7.28 and a 200-day moving average of $8.13. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 12.95 and a beta of 1.85.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $88.21 million for the quarter, compared to the consensus estimate of $86.32 million. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. On average, equities analysts predict that MiMedx Group, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Trading of MiMedx Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDXG. IMG Wealth Management Inc. acquired a new position in shares of MiMedx Group in the fourth quarter valued at about $28,000. Virtus Fund Advisers LLC acquired a new position in MiMedx Group in the 4th quarter worth approximately $35,000. Van ECK Associates Corp acquired a new position in MiMedx Group in the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its stake in shares of MiMedx Group by 77.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock worth $63,000 after acquiring an additional 2,837 shares during the period. Finally, AlphaQuest LLC purchased a new position in shares of MiMedx Group during the fourth quarter worth $88,000. Institutional investors and hedge funds 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.