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

StockNews.com upgraded shares of MiMedx Group (NASDAQ:MDXG - Free Report) from a buy rating to a strong-buy rating in a research report released on Friday morning.

Separately, Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 price objective on shares of MiMedx Group in a report on Thursday, February 27th.

MiMedx Group Stock Up 4.7 %

Shares of NASDAQ MDXG traded up $0.32 during mid-day trading on Friday, reaching $7.18. The company had a trading volume of 271,690 shares, compared to its average volume of 694,840. The stock has a fifty day moving average of $7.99 and a two-hundred day moving average of $7.97. MiMedx Group has a 12-month low of $5.21 and a 12-month high of $10.14. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.17 and a beta of 1.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last posted its quarterly 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 net margin of 23.86% and a return on equity of 26.21%. The business had revenue of $92.91 million for the quarter, compared to the consensus estimate of $89.42 million. As a group, equities research analysts expect that MiMedx Group will post 0.3 EPS for the current year.

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Insider Transactions at MiMedx Group

In other news, CAO William Frank Iv Hulse sold 81,446 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $7.80, for a total value of $635,278.80. Following the sale, the chief accounting officer now owns 494,774 shares in the company, valued at approximately $3,859,237.20. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kimberly Maersk-Moller sold 4,106 shares of the company's stock in a transaction 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 owns 310,836 shares of the company's stock, valued at approximately $2,452,496.04. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,018 shares of company stock worth $1,130,312. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY grew its position in MiMedx Group by 0.5% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 4,686,231 shares of the company's stock worth $45,082,000 after buying an additional 22,131 shares in the last quarter. Cannell Capital LLC increased its position in shares of MiMedx Group by 1.1% during the fourth quarter. Cannell Capital LLC now owns 3,639,545 shares of the company's stock valued at $35,012,000 after purchasing an additional 40,235 shares during the period. First Light Asset Management LLC acquired a new position in shares of MiMedx Group in the fourth quarter valued at $32,168,000. Geode Capital Management LLC raised its stake in shares of MiMedx Group by 1.6% in the third quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company's stock valued at $16,518,000 after purchasing an additional 44,254 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in MiMedx Group by 18.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,804,557 shares of the company's stock worth $17,360,000 after purchasing an additional 280,327 shares during the period. 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.