MiMedx Group (NASDAQ:MDXG) Stock Price Down 7.6% - Should You Sell?

Key Points

• MiMedx shares fell 7.6% to about $3.59, with trading volume roughly 81% below the average session volume.
• Analyst sentiment remains broadly positive: six analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $8.14.
• The company reported quarterly revenue of $62.28 million, below the $68.56 million analyst estimate, and a loss of $0.01 per share; analysts expect a full-year loss of $0.10 per share.

MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report)'s stock price was down 7.6% on Monday. The stock traded as low as $3.65 and last traded at $3.5860. Approximately 243,377 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,308,218 shares. The stock had previously closed at $3.88.

Wall Street Analyst Weigh In

MDXG has been the subject of several analyst reports. Seaport Research Partners cut shares of MiMedx Group to a "neutral" rating in a report on Monday, August 17th. Craig Hallum increased their price objective on shares of MiMedx Group from $6.00 to $8.00 and gave the company a "buy" rating in a research report 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. Weiss Ratings cut shares of MiMedx Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of MiMedx Group in a research note on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.14.

MiMedx Group Stock Down 9.4%

The stock has a market capitalization of $512.94 million, a PE ratio of -27.19 and a beta of 1.17. The business's 50-day moving average is $4.49 and its two-hundred day moving average is $4.29.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported ($0.01) earnings per share (EPS) for the quarter. MiMedx Group had a positive return on equity of 2.39% and a negative net margin of 6.32%. The firm had revenue of $62.28 million for the quarter, compared to analysts' expectations of $68.56 million. As a group, analysts anticipate that MiMedx Group, Inc will post -0.10 EPS for the current year.

Institutional Investors Weigh In On MiMedx Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of MiMedx Group by 2,422.5% in the third quarter. GAMMA Investing LLC now owns 7,719 shares of the company's stock valued at $36,000 after acquiring an additional 7,413 shares during the period. Sunbelt Securities Inc. purchased a new stake in MiMedx Group in the 1st quarter valued at $42,000. E Fund Management Co. Ltd. purchased a new stake in MiMedx Group in the 2nd quarter valued at $45,000. Syon Capital LLC purchased a new stake in MiMedx Group in the 2nd quarter valued at $45,000. Finally, Legal & General Group Plc acquired a new stake in MiMedx Group during the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.