MiMedx Group Inc. (MDXG) Trading Up 2.5%
Shares of MiMedx Group Inc. (NASDAQ:MDXG) were up 2.5% on Wednesday . The stock traded as high as $7.30 and last traded at $7.24, with a volume of 459,606 shares changing hands. The stock had previously closed at $7.06.
Several analysts have weighed in on MDXG shares. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of MiMedx Group in a research report on Wednesday. Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. Finally, Brean Capital reiterated a “buy” rating on shares of MiMedx Group in a report on Thursday, May 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. MiMedx Group presently has an average rating of “Buy” and a consensus price target of $10.89.
The stock has a market capitalization of $785.70 million and a P/E ratio of 33.84. The firm has a 50-day moving average price of $7.50 and a 200 day moving average price of $7.87.
MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. The company had revenue of $57 million for the quarter, compared to the consensus estimate of $56.49 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. MiMedx Group’s revenue for the quarter was up 25.5% compared to the same quarter last year. Equities research analysts anticipate that MiMedx Group Inc. will post $0.23 earnings per share for the current year.
In related news, insider William Charles Taylor sold 29,112 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $7.55, for a total value of $219,795.60. Following the sale, the insider now directly owns 612,316 shares of the company’s stock, valued at approximately $4,622,985.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
An institutional investor recently raised its position in MiMedx Group stock. Wells Fargo & Company MN increased its position in MiMedx Group Inc. (NASDAQ:MDXG) by 19.4% during the fourth quarter, according to its most recent 13F 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 approximately 0.96% of MiMedx Group worth $9,759,000 as of its most recent filing with the SEC.
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.
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