MiMedx Group (NASDAQ:MDXG) Sees Strong Trading Volume

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) saw strong trading volume on Wednesday . 448,304 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 735,600 shares.The stock last traded at $7.56 and had previously closed at $7.62.

Analysts Set New Price Targets

Several analysts recently commented on the company. Mizuho raised their price objective on MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Lake Street Capital initiated coverage on MiMedx Group in a report on Thursday, March 7th. They issued a “buy” rating and a $12.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MiMedx Group has a consensus rating of “Buy” and a consensus price target of $12.25.

MiMedx Group Stock Up 1.2 %

The firm’s 50-day moving average is $8.04 and its 200 day moving average is $7.70. The firm has a market capitalization of $1.13 billion, a P/E ratio of 24.06 and a beta of 1.34. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.11 and a current ratio of 3.57.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The firm had revenue of $86.83 million during the quarter, compared to the consensus estimate of $85.58 million. MiMedx Group had a net margin of 14.49% and a return on equity of 41.12%. As a group, equities research analysts predict that MiMedx Group, Inc. will post 0.33 EPS for the current fiscal year.

Insider Transactions at MiMedx Group

In other news, COO Ricci S. Whitlow sold 15,493 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $8.07, for a total value of $125,028.51. Following the sale, the chief operating officer now owns 416,321 shares of the company’s stock, valued at $3,359,710.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MiMedx Group news, COO Ricci S. Whitlow sold 15,271 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total transaction of $122,320.71. Following the transaction, the chief operating officer now owns 401,050 shares of the company’s stock, valued at approximately $3,212,410.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ricci S. Whitlow sold 15,493 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $8.07, for a total value of $125,028.51. Following the sale, the chief operating officer now owns 416,321 shares in the company, valued at approximately $3,359,710.47. The disclosure for this sale can be found here. Insiders sold 51,145 shares of company stock valued at $409,378 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MiMedx Group

A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of MiMedx Group by 1.3% in the 4th quarter. Legal & General Group Plc now owns 113,552 shares of the company’s stock valued at $996,000 after acquiring an additional 1,495 shares during the period. ProShare Advisors LLC grew its holdings in MiMedx Group by 11.5% during the second quarter. ProShare Advisors LLC now owns 14,813 shares of the company’s stock worth $98,000 after purchasing an additional 1,532 shares during the period. FORVIS Wealth Advisors LLC increased its position in MiMedx Group by 7.3% during the third quarter. FORVIS Wealth Advisors LLC now owns 25,305 shares of the company’s stock worth $184,000 after buying an additional 1,715 shares during the last quarter. Lazard Asset Management LLC raised its stake in MiMedx Group by 8.9% in the second quarter. Lazard Asset Management LLC now owns 28,610 shares of the company’s stock valued at $188,000 after buying an additional 2,349 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MiMedx Group by 4.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,329 shares of the company’s stock valued at $411,000 after buying an additional 2,627 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.