Wall Street Zen Upgrades MiMedx Group (NASDAQ:MDXG) to Buy

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

Separately, Cantor Fitzgerald restated an "overweight" rating and issued a $13.00 target price on shares of MiMedx Group in a report on Thursday, February 27th.

MiMedx Group Price Performance

NASDAQ:MDXG traded down $0.04 during trading hours on Friday, reaching $6.45. The stock had a trading volume of 484,055 shares, compared to its average volume of 687,754. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. MiMedx Group has a 52 week low of $5.47 and a 52 week high of $10.14. The company has a 50 day moving average price of $6.83 and a two-hundred day moving average price of $8.03. The stock has a market capitalization of $952.68 million, a PE ratio of 11.73 and a beta of 1.82.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. The business had revenue of $88.21 million for the quarter, compared to the consensus estimate of $86.32 million. As a group, sell-side analysts anticipate that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kimberly Maersk-Moller sold 4,106 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $7.89, for a total transaction of $32,396.34. Following the transaction, the insider now directly owns 310,836 shares in the company, valued at approximately $2,452,496.04. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William Frank Iv Hulse sold 54,596 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $7.89, for a total transaction of $430,762.44. Following the transaction, the chief accounting officer now owns 440,178 shares in the company, valued at $3,473,004.42. The trade was a 11.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,461 shares of company stock valued at $477,301. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MiMedx Group

Hedge funds have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in MiMedx Group in the 4th quarter valued at $28,000. Virtus Fund Advisers LLC bought a new position in MiMedx Group in the 4th quarter valued at $35,000. Van ECK Associates Corp bought a new position in MiMedx Group in the 4th quarter valued at $40,000. Virtus Advisers LLC bought a new position in MiMedx Group in the 1st quarter valued at $40,000. Finally, Tower Research Capital LLC TRC grew its position in MiMedx Group by 77.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock valued at $63,000 after acquiring an additional 2,837 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

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.