MiMedx Group (NASDAQ:MDXG) Shares Down 7.5%

Shares of MiMedx Group, Inc. (NASDAQ:MDXG - Get Free Report) traded down 7.5% on Tuesday . The company traded as low as $6.89 and last traded at $6.89. 774,855 shares changed hands during trading, an increase of 1% from the average session volume of 769,048 shares. The stock had previously closed at $7.45.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Lake Street Capital assumed coverage on MiMedx Group in a research report on Thursday, March 7th. They set a "buy" rating and a $12.00 price objective on the stock. Mizuho lifted their price objective on MiMedx Group from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, March 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $12.25.

MiMedx Group Trading Down 7.7 %

The stock has a fifty day moving average of $7.98 and a 200 day moving average of $7.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.11 and a current ratio of 3.57. The company has a market capitalization of $1.01 billion, a PE ratio of 21.50 and a beta of 1.32.

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

Insider Buying and Selling at MiMedx Group

In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total value of $162,028.95. Following the transaction, the chief accounting officer now owns 479,959 shares of the company's stock, valued at approximately $3,815,674.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MiMedx Group news, COO Ricci S. Whitlow sold 15,271 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO William Frank Iv Hulse sold 20,381 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the completion of the sale, the chief accounting officer now owns 479,959 shares of the company's stock, valued at $3,815,674.05. The disclosure for this sale can be found here. Insiders have sold 51,145 shares of company stock valued at $409,378 in the last quarter. 19.90% of the stock is owned by insiders.

Institutional Investors Weigh In On MiMedx Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in MiMedx Group by 2.0% in the second quarter. BlackRock Inc. now owns 8,118,485 shares of the company's stock valued at $53,663,000 after buying an additional 160,933 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of MiMedx Group by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 6,567,254 shares of the company's stock valued at $57,595,000 after purchasing an additional 130,099 shares during the period. State Street Corp increased its holdings in shares of MiMedx Group by 6.0% in the first quarter. State Street Corp now owns 4,406,544 shares of the company's stock valued at $20,755,000 after purchasing an additional 250,334 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in shares of MiMedx Group by 0.9% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,480,400 shares of the company's stock valued at $23,005,000 after purchasing an additional 29,998 shares during the period. Finally, Cannell Capital LLC increased its holdings in shares of MiMedx Group by 9.1% in the fourth quarter. Cannell Capital LLC now owns 2,480,969 shares of the company's stock valued at $21,758,000 after purchasing an additional 207,207 shares during the period. 79.15% of the stock is currently 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.