MiMedx Group (NASDAQ:MDXG) Upgraded by Wall Street Zen to Buy Rating

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 reiterated an "overweight" rating and set a $13.00 target price on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group Stock Performance

Shares of MiMedx Group stock traded up $0.15 during trading on Friday, reaching $6.49. The company's stock had a trading volume of 372,385 shares, compared to its average volume of 687,759. The business's 50-day moving average price is $6.83 and its 200-day moving average price is $8.05. The firm has a market cap of $958.59 million, a PE ratio of 11.80 and a beta of 1.82. MiMedx Group has a 52 week low of $5.47 and a 52 week high of $10.14. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10.

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 for the quarter, hitting the consensus estimate of $0.06. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. The business had revenue of $88.21 million during the quarter, compared to analysts' expectations of $86.32 million. Equities analysts forecast that MiMedx Group will post 0.3 earnings per share for the current year.

Insider Activity

In other MiMedx Group news, CEO Joseph H. Capper purchased 200,000 shares of the firm's 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 purchase, the chief executive officer now owns 529,530 shares of the company's stock, valued at $3,357,220.20. This trade represents a 60.69% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total transaction of $32,396.34. Following the sale, the insider now owns 310,836 shares of the company's stock, valued at $2,452,496.04. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,907 shares of company stock worth $1,112,580 in the last quarter. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MiMedx Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MDXG. Rhumbline Advisers raised its stake in MiMedx Group by 1.4% in the 1st quarter. Rhumbline Advisers now owns 177,156 shares of the company's stock valued at $1,346,000 after acquiring an additional 2,436 shares during the period. Strs Ohio bought a new stake in MiMedx Group in the 1st quarter valued at about $595,000. Jacobi Capital Management LLC raised its stake in MiMedx Group by 24.6% in the 1st quarter. Jacobi Capital Management LLC now owns 36,725 shares of the company's stock valued at $279,000 after acquiring an additional 7,250 shares during the period. Focus Partners Wealth bought a new stake in MiMedx Group in the 1st quarter valued at about $128,000. Finally, Goldman Sachs Group Inc. raised its stake in MiMedx Group by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,121,814 shares of the company's stock valued at $8,526,000 after acquiring an additional 207,397 shares during the period. 79.15% of the stock is owned by hedge funds and other 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.