MiMedx Group, Inc. (NASDAQ:MDXG) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of MiMedx Group, Inc. (NASDAQ:MDXG - Get Free Report) have been assigned an average rating of "Buy" from the four analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $12.00.

MDXG has been the subject of a number of recent research reports. StockNews.com lowered MiMedx Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.00 price target on shares of MiMedx Group in a research note on Thursday.

MiMedx Group Price Performance

Shares of MDXG stock traded down $0.10 during trading hours on Thursday, hitting $8.30. 1,090,311 shares of the company's stock were exchanged, compared to its average volume of 594,920. The company has a market capitalization of $1.22 billion, a PE ratio of 15.09 and a beta of 1.94. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. MiMedx Group has a 12-month low of $5.47 and a 12-month high of $10.14. The business's 50 day simple moving average is $8.72 and its 200-day simple moving average is $7.72.

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MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, hitting analysts' consensus estimates of $0.07. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. The company had revenue of $92.91 million for the quarter, compared to analysts' expectations of $89.42 million. On average, equities research analysts anticipate that MiMedx Group will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On MiMedx Group

Hedge funds and other institutional investors have recently modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in shares of MiMedx Group in the fourth quarter worth about $28,000. Blue Trust Inc. purchased a new stake in MiMedx Group in the 3rd quarter worth approximately $30,000. Virtus Fund Advisers LLC bought a new stake in shares of MiMedx Group in the 4th quarter worth approximately $35,000. Van ECK Associates Corp purchased a new position in shares of MiMedx Group during the fourth quarter valued at approximately $40,000. Finally, Point72 DIFC Ltd increased its stake 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 valued at $45,000 after buying an additional 4,275 shares during the period. 79.15% of the stock is owned by institutional investors.

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.