BidaskClub upgraded shares of MiMedx Group (NASDAQ:MDXG) from a hold rating to a buy rating in a report released on Wednesday morning.

MDXG has been the subject of a number of other research reports. Piper Jaffray Companies reaffirmed a buy rating and set a $18.00 price objective on shares of MiMedx Group in a research note on Friday, November 24th. Needham & Company LLC reaffirmed a buy rating and set a $21.00 price objective on shares of MiMedx Group in a research note on Tuesday, November 14th. Zacks Investment Research downgraded shares of MiMedx Group from a hold rating to a sell rating in a research note on Wednesday, October 4th. Finally, Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the company a buy rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. MiMedx Group presently has an average rating of Hold and an average price target of $17.00.

MiMedx Group (MDXG) opened at $16.13 on Wednesday. MiMedx Group has a one year low of $7.64 and a one year high of $18.25. The company has a market cap of $1,902.03, a PE ratio of 52.03, a PEG ratio of 2.22 and a beta of 1.08.

MiMedx Group announced that its Board of Directors has initiated a share buyback program on Monday, October 9th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the medical equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Several large investors have recently modified their holdings of the company. Pinebridge Investments L.P. grew its holdings in shares of MiMedx Group by 2.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock worth $201,000 after purchasing an additional 377 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of MiMedx Group by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 600 shares during the period. Amalgamated Bank grew its holdings in shares of MiMedx Group by 5.9% during the 2nd quarter. Amalgamated Bank now owns 14,292 shares of the medical equipment provider’s stock worth $214,000 after purchasing an additional 792 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of MiMedx Group by 0.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 104,747 shares of the medical equipment provider’s stock worth $1,569,000 after purchasing an additional 816 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of MiMedx Group by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 42,357 shares of the medical equipment provider’s stock worth $634,000 after purchasing an additional 982 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

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About MiMedx Group

MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.

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