StockNews.com Upgrades MiMedx Group (NASDAQ:MDXG) to Strong-Buy

MiMedx Group (NASDAQ:MDXG) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of MiMedx Group in a report on Thursday, February 27th.

MiMedx Group Stock Performance

NASDAQ:MDXG opened at $7.06 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $8.11 and a 200 day simple moving average of $7.96. MiMedx Group has a 1-year low of $5.47 and a 1-year high of $10.14. The stock has a market cap of $1.04 billion, a P/E ratio of 12.84 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. The company had revenue of $92.91 million during the quarter, compared to the consensus estimate of $89.42 million. Research analysts anticipate that MiMedx Group will post 0.3 earnings per share for the current year.

Insider Activity at MiMedx Group

In other MiMedx Group news, insider Kimberly Maersk-Moller sold 4,106 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the sale, the insider now owns 310,836 shares of the company’s stock, valued at approximately $2,452,496.04. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO William Frank Iv Hulse sold 54,596 shares of MiMedx Group stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total value of $430,762.44. Following the completion of the transaction, the chief accounting officer now owns 440,178 shares in the company, valued at approximately $3,473,004.42. The trade was a 11.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,018 shares of company stock valued at $1,130,312 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. IMG Wealth Management Inc. acquired a new stake in shares of MiMedx Group during the 4th quarter valued at $28,000. Virtus Fund Advisers LLC bought a new position in MiMedx Group in the fourth quarter valued at about $35,000. Van ECK Associates Corp acquired a new stake in shares of MiMedx Group during the fourth quarter valued at about $40,000. Point72 DIFC Ltd grew its holdings in shares of MiMedx Group by 127.6% during the third quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock worth $45,000 after purchasing an additional 4,275 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of MiMedx Group by 77.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock valued at $63,000 after buying an additional 2,837 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

About MiMedx Group

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.