MiMedx Group (NASDAQ:MDXG) Stock Price Down 5.4% - Time to Sell?

Key Points

• MiMedx shares fell 5.4% to about $4.46 in mid-day trading, with volume down 72% from the average daily level.
• Analyst sentiment remains broadly positive despite mixed revisions: six analysts rate the stock Buy and one Sell, producing a “Moderate Buy” consensus and an average price target of $8.57.
• The company met quarterly EPS expectations at a loss of $0.05 while revenue of $64.36 million exceeded estimates; institutional investors and hedge funds own approximately 79.15% of the stock.

MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report)'s stock price dropped 5.4% during mid-day trading on Friday. The company traded as low as $4.47 and last traded at $4.4550. 362,961 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,284,431 shares. The stock had previously closed at $4.71.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MDXG shares. Seaport Research Partners lowered shares of MiMedx Group to a "neutral" rating in a research report on Monday, August 17th. Craig Hallum increased their price target on MiMedx Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Raymond James Financial set a $8.00 price objective on MiMedx Group in a research report on Monday, August 17th. Weiss Ratings raised MiMedx Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded MiMedx Group from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.57.

MiMedx Group Stock Down 3.3%

The company has a current ratio of 5.33, a quick ratio of 4.79 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $663.94 million, a price-to-earnings ratio of 113.90 and a beta of 1.43. The firm has a 50 day moving average price of $4.43 and a two-hundred day moving average price of $4.03.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $64.36 million for the quarter, compared to analyst estimates of $63.46 million. MiMedx Group had a net margin of 1.76% and a return on equity of 12.09%. On average, equities analysts expect that MiMedx Group, Inc will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MiMedx Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. acquired a new stake in MiMedx Group in the 1st quarter valued at about $42,000. E Fund Management Co. Ltd. bought a new stake in MiMedx Group in the second quarter worth approximately $45,000. Syon Capital LLC bought a new stake in MiMedx Group during the second quarter worth approximately $45,000. Legal & General Group Plc bought a new stake in MiMedx Group in the 2nd quarter valued at $45,000. Finally, Punch & Associates Investment Management Inc. increased its position in shares of MiMedx Group by 0.6% during the first quarter. Punch & Associates Investment Management Inc. now owns 2,019,718 shares of the company's stock valued at $7,978,000 after purchasing an additional 12,524 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

MiMedx Group Company Profile

MiMedx Group, Inc is a biotechnology company that develops and markets regenerative biologic products derived from human placental tissue. Its products are designed to support the body's natural healing processes and are used by healthcare professionals in wound care, surgical applications, and musculoskeletal treatment.

The company's portfolio includes dehydrated human amnion/chorion membrane allografts, including EPIFIX, AMNIOFIX, and AMNIOCORD. These products are used in applications such as chronic wound management, tissue repair, and protection of soft tissue.

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