MiMedx Group Inc. (MDXG) Sees Strong Trading Volume
MiMedx Group Inc. (NASDAQ:MDXG) saw an uptick in trading volume on Tuesday . 880,049 shares were traded during mid-day trading, an increase of 17% from the previous session’s volume of 754,435 shares.The stock last traded at $8.25 and had previously closed at $8.17.
A number of research firms recently weighed in on MDXG. Brean Capital reiterated a “buy” rating on shares of MiMedx Group in a research report on Saturday, April 9th. TheStreet lowered shares of MiMedx Group from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Zacks Investment Research upgraded shares of MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Needham & Company LLC reduced their target price on MiMedx Group from $13.00 to $12.00 and set a “strong-buy” rating for the company in a report on Monday, April 11th. Finally, First Analysis downgraded MiMedx Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $9.00 in a report on Wednesday, April 27th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.89.
The stock has a market capitalization of $898.29 million and a price-to-earnings ratio of 35.50. The stock has a 50-day moving average of $7.88 and a 200-day moving average of $8.09.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.01. The company earned $53.40 million during the quarter, compared to analysts’ expectations of $54.05 million. On average, analysts forecast that MiMedx Group Inc. will post $0.31 earnings per share for the current fiscal year.
In other news, CEO Parker H. Petit purchased 50,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was bought at an average cost of $6.74 per share, with a total value of $337,000.00. Following the purchase, the chief executive officer now directly owns 4,919,121 shares of the company’s stock, valued at $33,154,875.54. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO William Charles Taylor sold 24,333 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $7.52, for a total value of $182,984.16. Following the sale, the chief operating officer now directly owns 616,078 shares of the company’s stock, valued at $4,632,906.56. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the company. Parsons Capital Management Inc. RI increased its stake in MiMedx Group by 1.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 718,700 shares of the company’s stock worth $6,734,000 after buying an additional 10,650 shares during the period. Principal Financial Group Inc. increased its stake in MiMedx Group by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 672,248 shares of the company’s stock worth $6,299,000 after buying an additional 29,523 shares during the period. Wells Fargo & Company MN increased its stake in MiMedx Group by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,041,546 shares of the company’s stock worth $9,759,000 after buying an additional 169,102 shares during the period. Rhumbline Advisers increased its stake in MiMedx Group by 13.1% in the fourth quarter. Rhumbline Advisers now owns 129,375 shares of the company’s stock worth $1,212,000 after buying an additional 15,005 shares during the period. Finally, First Trust Advisors LP increased its stake in MiMedx Group by 573.5% in the fourth quarter. First Trust Advisors LP now owns 140,573 shares of the company’s stock worth $1,317,000 after buying an additional 119,701 shares during the period.
MiMedx Group, Inc (MiMedx) is an integrated developer, manufacturer and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane. The Company’s biomaterial platform technologies include AmnioFix and EpiFix, its tissue technologies processed from human amniotic membrane that is derived from donated placentas.
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