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

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 trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDXG shares. Lake Street Capital started coverage on shares of MiMedx Group in a report on Thursday, March 7th. They set a “buy” rating and a $12.00 price objective on the stock. Mizuho lifted their price objective on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, MiMedx Group presently has an average rating of “Buy” and an average price target of $12.25.

MiMedx Group Stock Up 0.4 %

The company has a current ratio of 3.57, a quick ratio of 3.11 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $925.33 million, a PE ratio of 19.59 and a beta of 1.32. The stock’s fifty day simple moving average is $7.47 and its 200-day simple moving average is $7.56.

MiMedx Group (NASDAQ:MDXG) last released its 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 business had revenue of $86.83 million for the quarter, compared to the consensus estimate of $85.58 million. MiMedx Group had a return on equity of 41.12% and a net margin of 14.49%. As a group, sell-side analysts forecast that MiMedx Group, Inc. will post 0.33 EPS for the current fiscal year.

Insider Transactions at MiMedx Group

In other news, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total transaction of $162,028.95. Following the sale, the chief accounting officer now directly owns 479,959 shares in the company, valued at approximately $3,815,674.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total transaction of $162,028.95. Following the sale, the chief accounting officer now directly owns 479,959 shares in the company, valued at approximately $3,815,674.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ricci S. Whitlow sold 15,271 shares of the business’s 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 completion of the sale, the chief operating officer now owns 401,050 shares in the company, valued at $3,212,410.50. The disclosure for this sale can be found here. Insiders have sold 51,145 shares of company stock worth $409,378 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Institutional Investors Weigh In On MiMedx Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC raised its stake in MiMedx Group by 7.3% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 25,305 shares of the company’s stock valued at $184,000 after acquiring an additional 1,715 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in MiMedx Group by 4.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,329 shares of the company’s stock valued at $411,000 after acquiring an additional 2,627 shares during the period. Victory Capital Management Inc. raised its stake in MiMedx Group by 23.1% in the 4th quarter. Victory Capital Management Inc. now owns 14,916 shares of the company’s stock valued at $131,000 after acquiring an additional 2,796 shares during the period. AJOVista LLC bought a new stake in MiMedx Group in the 4th quarter valued at about $25,000. Finally, New York State Common Retirement Fund raised its stake in MiMedx Group by 6.9% in the 4th quarter. New York State Common Retirement Fund now owns 49,419 shares of the company’s stock valued at $433,000 after acquiring an additional 3,204 shares during the period. 79.15% of the stock is currently owned by institutional investors.

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.