MiMedx Group (NASDAQ:MDXG) Shares Down 5.4% – Time to Sell?

MiMedx Group, Inc (NASDAQ:MDXG) shares fell 5.4% during trading on Friday. The stock traded as low as $4.47 and last traded at $4.4550. 362,961 shares changed hands during trading, a decline of 72% from the average session volume of 1,284,431 shares. The stock had previously closed at $4.71.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MDXG. Craig Hallum boosted their target price on MiMedx Group from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Raymond James Financial set a $8.00 target price on MiMedx Group in a report on Monday, August 17th. Cantor Fitzgerald restated an “overweight” rating on shares of MiMedx Group in a research report on Tuesday, September 15th. Weiss Ratings raised MiMedx Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded shares of MiMedx Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.57.

MiMedx Group Stock Down 3.3%

The firm has a 50 day simple moving average of $4.43 and a two-hundred day simple moving average of $4.03. The stock has a market capitalization of $663.94 million, a P/E ratio of 113.90 and a beta of 1.43. The company has a quick ratio of 4.79, a current ratio of 5.33 and a debt-to-equity ratio of 0.07.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%.The company had revenue of $64.36 million for the quarter, compared to analyst estimates of $63.46 million. On average, equities research analysts expect that MiMedx Group, Inc will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MDXG. BlackRock Inc. bought a new position in shares of MiMedx Group in the 2nd quarter valued at $46,795,000. Nantahala Capital Management LLC acquired a new stake in shares of MiMedx Group during the 2nd quarter valued at $18,355,075. Paradigm Capital Management Inc. NY bought a new stake in MiMedx Group during the 2nd quarter worth $15,681,000. Punch & Associates Investment Management Inc. bought a new stake in MiMedx Group during the 2nd quarter worth $7,924,000. Finally, Cannell Capital LLC acquired a new position in MiMedx Group in the 2nd quarter worth about $7,201,179. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Company Profile

MiMedx Group, Inc is a biotechnology company that develops and markets regenerative biologic products derived from human placental tissue. Its products are designed to support the body’s natural healing processes and are used by healthcare professionals in wound care, surgical applications, and musculoskeletal treatment.

The company’s portfolio includes dehydrated human amnion/chorion membrane allografts, including EPIFIX, AMNIOFIX, and AMNIOCORD. These products are used in applications such as chronic wound management, tissue repair, and protection of soft tissue.