MiMedx Group (NASDAQ:MDXG) Stock Jumps 7.1% - Still a Buy?

Key Points

• MiMedx Group shares rose 7.1% to about $4.01, although trading volume was 70% below the stock’s average daily level.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $8.57.
• The company reported quarterly revenue of $64.36 million, exceeding estimates, while meeting the consensus EPS loss estimate of $0.05; institutional investors own approximately 79.15% of outstanding shares.

MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report) rose 7.1% on Thursday. The company traded as high as $3.97 and last traded at $4.0050. 384,370 shares changed hands during trading, a decline of 70% from the average daily volume of 1,288,983 shares. The stock had previously closed at $3.74.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Raymond James Financial set a $8.00 target price on MiMedx Group in a research note on Monday, August 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of MiMedx Group in a research report on Tuesday, September 15th. Weiss Ratings raised shares of MiMedx Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 27th. Wall Street Zen upgraded shares of MiMedx Group from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Finally, Seaport Research Partners lowered shares of MiMedx Group to a "neutral" rating in a report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.57.

MiMedx Group Trading Up 5.1%

The firm's 50-day simple moving average is $4.54 and its 200-day simple moving average is $4.08. The firm has a market capitalization of $572.84 million, a PE ratio of 98.27 and a beta of 1.18. The company has a quick ratio of 4.79, a current ratio of 5.33 and a debt-to-equity ratio of 0.07.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%. The firm had revenue of $64.36 million for the quarter, compared to the consensus estimate of $63.46 million. Equities analysts expect that MiMedx Group, Inc will post -0.10 earnings per share for the current year.

Hedge Funds Weigh In On MiMedx Group

A number of large investors have recently bought and sold shares of MDXG. GAMMA Investing LLC boosted its stake in shares of MiMedx Group by 2,422.5% during the third quarter. GAMMA Investing LLC now owns 7,719 shares of the company's stock valued at $36,000 after purchasing an additional 7,413 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of MiMedx Group in the first quarter worth $42,000. E Fund Management Co. Ltd. purchased a new position in shares of MiMedx Group in the second quarter worth $45,000. Syon Capital LLC purchased a new position in shares of MiMedx Group in the second quarter worth $45,000. Finally, Legal & General Group Plc bought a new stake in MiMedx Group during the 2nd quarter valued at $45,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

About MiMedx Group

MiMedx Group, Inc NASDAQ: MDXG is a biotechnology company focused on developing and commercializing human placental tissue allografts for wound care and other medical applications. The company's products are derived from donated placental tissue and are processed using its proprietary PURION technology platform.

MiMedx's portfolio includes tissue-based products such as EPIFIX and EPICORD, which are used primarily by healthcare professionals in the management of chronic and acute wounds, including diabetic foot ulcers and other hard-to-heal wounds.

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