MiMedx Group (NASDAQ:MDXG) Downgraded to “Buy” Rating 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 report issued on Wednesday.

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

MiMedx Group Stock Performance

MiMedx Group stock traded down $0.17 during mid-day trading on Wednesday, reaching $6.63. 489,764 shares of the company traded hands, compared to its average volume of 696,177. The company has a market capitalization of $977.04 million, a price-to-earnings ratio of 12.05 and a beta of 1.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53. The firm’s fifty day moving average is $7.75 and its two-hundred day moving average is $7.99. MiMedx Group has a fifty-two week low of $5.47 and a fifty-two week high of $10.14.

MiMedx Group (NASDAQ:MDXG) last released 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 return on equity of 26.21% and a net margin of 23.86%. The company had revenue of $92.91 million during the quarter, compared to analysts’ expectations of $89.42 million. On average, equities research analysts expect that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kimberly Maersk-Moller sold 4,106 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $7.89, for a total value of $32,396.34. Following the completion of the transaction, the insider now owns 310,836 shares of the company’s stock, valued at approximately $2,452,496.04. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO William Frank Iv Hulse sold 81,446 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $7.80, for a total transaction of $635,278.80. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,018 shares of company stock worth $1,130,312. Insiders own 1.30% of the company’s stock.

Institutional Trading of MiMedx Group

Several hedge funds have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY boosted its position in shares of 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 during the period. Cannell Capital LLC grew its stake in shares of MiMedx Group by 1.1% in the 4th quarter. Cannell Capital LLC now owns 3,639,545 shares of the company’s stock worth $35,012,000 after purchasing an additional 40,235 shares during the last quarter. First Light Asset Management LLC bought a new stake in shares of MiMedx Group during the 4th quarter worth $32,168,000. Geode Capital Management LLC raised its holdings in MiMedx Group by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock worth $16,518,000 after buying an additional 44,254 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of 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 buying an additional 280,327 shares during the period. 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.