MiMedx Group (NASDAQ:MDXG) Shares Gap Up - What's Next?

MiMedx Group, Inc. (NASDAQ:MDXG - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $5.69, but opened at $6.22. MiMedx Group shares last traded at $6.98, with a volume of 221,017 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Craig Hallum cut their price target on MiMedx Group from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. StockNews.com lowered MiMedx Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 15th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $11.00 target price on shares of MiMedx Group in a report on Thursday, August 1st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MiMedx Group currently has a consensus rating of "Buy" and an average price target of $12.00.

MiMedx Group Stock Up 20.4 %

The firm has a fifty day moving average of $6.06 and a 200-day moving average of $6.66. The firm has a market cap of $1.01 billion, a P/E ratio of 12.23 and a beta of 1.97. The company has a quick ratio of 3.22, a current ratio of 3.85 and a debt-to-equity ratio of 0.11.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. The firm had revenue of $87.21 million for the quarter, compared to the consensus estimate of $88.44 million. MiMedx Group had a return on equity of 34.24% and a net margin of 23.63%. On average, equities research analysts anticipate that MiMedx Group, Inc. will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On MiMedx Group

A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in MiMedx Group by 6.3% during the third quarter. Principal Financial Group Inc. now owns 55,495 shares of the company's stock worth $328,000 after buying an additional 3,292 shares during the last quarter. Cannon Global Investment Management LLC increased its stake in shares of MiMedx Group by 47.1% during the third quarter. Cannon Global Investment Management LLC now owns 25,000 shares of the company's stock worth $148,000 after purchasing an additional 8,000 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of MiMedx Group by 299.9% during the third quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company's stock worth $6,074,000 after purchasing an additional 770,744 shares during the period. Farther Finance Advisors LLC increased its stake in shares of MiMedx Group by 88.6% during the third quarter. Farther Finance Advisors LLC now owns 24,599 shares of the company's stock worth $145,000 after purchasing an additional 11,557 shares during the period. Finally, Calton & Associates Inc. bought a new position in shares of MiMedx Group during the third quarter worth approximately $137,000. Institutional investors and hedge funds own 79.15% of the company's stock.

MiMedx Group Company Profile

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.