MiMedx Group (NASDAQ:MDXG) Stock Rating Lowered by StockNews.com

MiMedx Group (NASDAQ:MDXG) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of MiMedx Group in a research note on Thursday, February 27th.

MiMedx Group Price Performance

Shares of MDXG opened at $6.68 on Wednesday. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10. MiMedx Group has a twelve month low of $5.47 and a twelve month high of $10.14. The company has a 50 day moving average of $7.72 and a 200-day moving average of $8.00. The stock has a market capitalization of $983.67 million, a P/E ratio of 12.14 and a beta of 1.74.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On MiMedx Group

Large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in MiMedx Group by 29.8% in the 3rd quarter. FMR LLC now owns 53,869 shares of the company’s stock valued at $318,000 after buying an additional 12,371 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of MiMedx Group by 11.8% in the third quarter. Wellington Management Group LLP now owns 317,274 shares of the company’s stock valued at $1,875,000 after acquiring an additional 33,461 shares during the period. Jane Street Group LLC boosted its position in shares of MiMedx Group by 133.6% in the third quarter. Jane Street Group LLC now owns 305,652 shares of the company’s stock valued at $1,806,000 after acquiring an additional 174,797 shares during the period. Barclays PLC grew its stake in shares of MiMedx Group by 163.9% in the third quarter. Barclays PLC now owns 262,449 shares of the company’s stock valued at $1,550,000 after acquiring an additional 163,005 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in MiMedx Group by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock worth $16,518,000 after purchasing an additional 44,254 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

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.