MiMedx Group (NASDAQ:MDXG) Shares Gap Down to $6.43

MiMedx Group, Inc. (NASDAQ:MDXG - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.43, but opened at $6.10. MiMedx Group shares last traded at $5.94, with a volume of 538,502 shares traded.

Wall Street Analysts Forecast Growth

MDXG has been the subject of several analyst reports. Mizuho lifted their price target on shares of MiMedx Group from $13.00 to $14.00 and gave the company a "buy" rating in a report on Friday, March 1st. Lake Street Capital began coverage on shares of MiMedx Group in a research note on Thursday, March 7th. They issued a "buy" rating and a $12.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $12.25.

MiMedx Group Price Performance

The stock has a fifty day moving average of $7.50 and a 200-day moving average of $7.56. The firm has a market capitalization of $917.77 million, a P/E ratio of 19.52 and a beta of 1.32. The company has a quick ratio of 3.11, a current ratio of 3.57 and a debt-to-equity ratio of 0.34.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). MiMedx Group had a net margin of 14.49% and a return on equity of 41.12%. The company had revenue of $86.83 million during the quarter, compared to analyst estimates of $85.58 million. Equities analysts predict that MiMedx Group, Inc. will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other MiMedx Group news, COO Ricci S. Whitlow sold 15,271 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total value of $122,320.71. Following the transaction, the chief operating officer now directly owns 401,050 shares in the company, valued at approximately $3,212,410.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Ricci S. Whitlow sold 15,271 shares of MiMedx Group stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total value of $122,320.71. Following the completion of the sale, the chief operating officer now directly owns 401,050 shares in the company, valued at $3,212,410.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO William Frank Iv Hulse sold 20,381 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total transaction of $162,028.95. Following the transaction, the chief accounting officer now owns 479,959 shares in the company, valued at $3,815,674.05. The disclosure for this sale can be found here. Insiders sold 51,145 shares of company stock worth $409,378 in the last quarter. Insiders own 19.90% of the company's stock.

Hedge Funds Weigh In On MiMedx Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FORVIS Wealth Advisors LLC boosted its holdings in MiMedx Group by 7.3% during the third quarter. FORVIS Wealth Advisors LLC now owns 25,305 shares of the company's stock worth $184,000 after buying an additional 1,715 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MiMedx Group by 4.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,329 shares of the company's stock worth $411,000 after buying an additional 2,627 shares in the last quarter. Victory Capital Management Inc. raised its position in MiMedx Group by 23.1% in the 4th quarter. Victory Capital Management Inc. now owns 14,916 shares of the company's stock valued at $131,000 after buying an additional 2,796 shares during the last quarter. AJOVista LLC acquired a new position in MiMedx Group during the 4th quarter worth approximately $25,000. Finally, New York State Common Retirement Fund boosted its holdings in MiMedx Group by 6.9% during the fourth quarter. New York State Common Retirement Fund now owns 49,419 shares of the company's stock worth $433,000 after purchasing an additional 3,204 shares during the last quarter. 79.15% of the stock is 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.