MiMedx Group (NASDAQ:MDXG) Shares Gap Down to $6.43

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) gapped down prior to trading on Thursday . The stock had previously closed at $6.43, but opened at $6.10. MiMedx Group shares last traded at $5.94, with a volume of 538,502 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on MDXG. Mizuho upped their price target on shares of MiMedx Group from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Lake Street Capital began coverage on shares of MiMedx Group in a research report on Thursday, March 7th. They issued a “buy” rating and a $12.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $12.25.

MiMedx Group Stock Performance

The company has a market cap of $917.03 million, a PE ratio of 17.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.11 and a current ratio of 3.57. The stock’s 50-day simple moving average is $7.54 and its 200 day simple moving average is $7.57.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The company had revenue of $86.83 million during the quarter, compared to analysts’ expectations 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 analysts anticipate that MiMedx Group, Inc. will post 0.33 EPS for the current year.

Insider Activity at MiMedx Group

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

Institutional Investors Weigh In On MiMedx Group

Several hedge funds have recently modified their holdings of MDXG. AJOVista LLC acquired a new stake in shares of MiMedx Group in the fourth quarter worth approximately $25,000. DekaBank Deutsche Girozentrale purchased a new position in MiMedx Group in the third quarter valued at approximately $38,000. Robeco Institutional Asset Management B.V. purchased a new position in MiMedx Group in the third quarter valued at approximately $74,000. M&T Bank Corp purchased a new position in MiMedx Group in the third quarter valued at approximately $75,000. Finally, E Fund Management Co. Ltd. purchased a new position in MiMedx Group in the third quarter valued at approximately $84,000. 79.15% of the stock is 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.