MiMedx Group Inc. (MDXG) Sees Strong Trading Volume
MiMedx Group Inc. (NASDAQ:MDXG) shares saw unusually-strong trading volume on Wednesday . Approximately 1,013,604 shares were traded during mid-day trading, an increase of 45% from the previous session’s volume of 700,631 shares.The stock last traded at $7.44 and had previously closed at $7.50.
Several equities research analysts have recently issued reports on MDXG shares. Brean Capital reissued a “buy” rating on shares of MiMedx Group in a research report on Wednesday, June 29th. First Analysis lowered shares of MiMedx Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $14.00 to $9.00 in a research report on Wednesday, April 27th. Finally, Zacks Investment Research lowered shares of MiMedx Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $10.89.
The firm has a market capitalization of $796.70 million and a P/E ratio of 34.31. The stock has a 50 day moving average of $7.66 and a 200-day moving average of $7.88.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. During the same quarter in the prior year, the company earned $0.05 earnings per share. The firm had revenue of $57 million for the quarter, compared to the consensus estimate of $56.49 million. MiMedx Group’s revenue was up 25.5% on a year-over-year basis. On average, equities research analysts forecast that MiMedx Group Inc. will post $0.23 EPS for the current fiscal year.
In other news, insider William Charles Taylor sold 29,112 shares of MiMedx Group stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $7.55, for a total value of $219,795.60. Following the transaction, the insider now directly owns 612,316 shares of the company’s stock, valued at $4,622,985.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
An institutional investor recently raised its position in MiMedx Group stock. Wells Fargo & Company MN boosted its stake in MiMedx Group Inc. (NASDAQ:MDXG) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,041,546 shares of the company’s stock after buying an additional 169,102 shares during the period. Wells Fargo & Company MN owned 0.96% of MiMedx Group worth $9,759,000 as of its most recent SEC filing.
MiMedx Group, Inc (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories.