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

MiMedx Group, Inc. (NASDAQ:MDXG) shares gapped down before the market opened 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Lake Street Capital assumed coverage on shares of MiMedx Group in a research note on Thursday, March 7th. They set a “buy” rating and a $12.00 target price for the company. Mizuho increased their price target 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.25.

MiMedx Group Stock Down 3.0 %

The stock has a market capitalization of $917.03 million, a PE ratio of 17.91 and a beta of 1.32. The firm’s fifty day moving average is $7.54 and its 200-day moving average is $7.57. The company has a quick ratio of 3.11, a current ratio of 3.57 and a debt-to-equity ratio of 0.34.

MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). MiMedx Group had a net margin of 14.49% and a return on equity of 41.12%. The company had revenue of $86.83 million during the quarter, compared to analysts’ expectations of $85.58 million. On average, equities research analysts predict that MiMedx Group, Inc. will post 0.33 earnings per share for the current year.

Insider Buying and Selling at MiMedx Group

In other MiMedx Group news, CAO William Frank Iv Hulse sold 20,381 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the completion of the transaction, the chief accounting officer now directly owns 479,959 shares of the company’s stock, valued at $3,815,674.05. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO Ricci S. Whitlow sold 15,271 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total transaction of $122,320.71. Following the sale, the chief operating officer now owns 401,050 shares in the company, valued at $3,212,410.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William Frank Iv Hulse sold 20,381 shares of the firm’s stock in a transaction that occurred 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 owns 479,959 shares in the company, valued at approximately $3,815,674.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,145 shares of company stock valued at $409,378. Corporate insiders own 19.90% of the company’s stock.

Hedge Funds Weigh In On MiMedx Group

A number of hedge funds have recently made changes to their positions in MDXG. SG Americas Securities LLC acquired a new position in shares of MiMedx Group in the 3rd quarter valued at $289,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of MiMedx Group in the 3rd quarter valued at $74,000. Bank of New York Mellon Corp boosted its holdings in shares of MiMedx Group by 7.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 424,221 shares of the company’s stock valued at $3,093,000 after purchasing an additional 28,305 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MiMedx Group by 97.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,066 shares of the company’s stock valued at $219,000 after acquiring an additional 14,862 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of MiMedx Group during the 3rd quarter valued at $88,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Company Profile

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.