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

MiMedx Group (NASDAQ:MDXG - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Wednesday.

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

MiMedx Group Price Performance

Shares of MDXG traded up $0.05 during trading hours on Wednesday, reaching $6.68. 373,721 shares of the stock traded hands, compared to its average volume of 694,802. The company's 50-day moving average price is $7.69 and its two-hundred day moving average price is $8.02. 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 52-week low of $5.47 and a 52-week high of $10.14. The company has a market cap of $983.67 million, a P/E ratio of 12.14 and a beta of 1.74.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) 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 analysts' expectations of $89.42 million. On average, analysts anticipate that MiMedx Group will post 0.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kimberly Maersk-Moller sold 4,106 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $7.89, for a total transaction of $32,396.34. Following the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William Frank Iv Hulse sold 54,596 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 440,178 shares of the company's stock, valued at $3,473,004.42. The trade was a 11.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,018 shares of company stock worth $1,130,312 over the last quarter. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On MiMedx Group

Several institutional investors have recently made changes to their positions in MDXG. IMG Wealth Management Inc. purchased a new position in MiMedx Group during the 4th quarter valued at about $28,000. Virtus Fund Advisers LLC purchased a new position in MiMedx Group during the fourth quarter valued at approximately $35,000. Van ECK Associates Corp purchased a new stake in MiMedx Group during the fourth quarter worth $40,000. Tower Research Capital LLC TRC lifted its stake in shares of MiMedx Group by 77.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock worth $63,000 after purchasing an additional 2,837 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its position in MiMedx Group by 30.0% during the third quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company's stock valued at $77,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors 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.