MiMedx Group, Inc (NASDAQ:MDXG) Stock Has Average Target Price of $8.14

Shares of MiMedx Group, Inc (NASDAQ:MDXG) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.14.

Several research analysts have weighed in on the company. Weiss Ratings cut MiMedx Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Seaport Research Partners lowered MiMedx Group to a “neutral” rating in a research report on Monday, August 17th. Mizuho set a $7.00 target price on MiMedx Group in a research note on Thursday. Wall Street Zen upgraded MiMedx Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Raymond James Financial set a $8.00 price target on shares of MiMedx Group in a report on Monday, August 17th.

MiMedx Group Stock Down 2.3%

Shares of NASDAQ MDXG opened at $3.88 on Friday. The company has a market capitalization of $565.55 million, a PE ratio of -29.85 and a beta of 1.18. The stock’s 50 day moving average price is $4.49 and its 200-day moving average price is $4.29. MiMedx Group has a twelve month low of $3.03 and a twelve month high of $7.97.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.01) EPS for the quarter. The business had revenue of $62.28 million for the quarter, compared to analysts’ expectations of $68.56 million. MiMedx Group had a negative net margin of 6.32% and a positive return on equity of 2.39%. As a group, research analysts expect that MiMedx Group will post -0.10 EPS for the current fiscal year.

Institutional Trading of MiMedx Group

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in MiMedx Group by 2,422.5% in the third quarter. GAMMA Investing LLC now owns 7,719 shares of the company’s stock valued at $36,000 after acquiring an additional 7,413 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of MiMedx Group during the 1st quarter valued at approximately $42,000. E Fund Management Co. Ltd. purchased a new stake in shares of MiMedx Group during the 2nd quarter worth approximately $45,000. Legal & General Group Plc purchased a new stake in shares of MiMedx Group during the 2nd quarter worth approximately $45,000. Finally, Syon Capital LLC purchased a new stake in shares of MiMedx Group during the 2nd quarter worth approximately $45,000. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Company Profile

MiMedx Group, Inc (NASDAQ: MDXG) is a biotechnology company focused on developing and commercializing human placental tissue allografts for wound care and other medical applications. The company’s products are derived from donated placental tissue and are processed using its proprietary PURION technology platform.

MiMedx’s portfolio includes tissue-based products such as EPIFIX and EPICORD, which are used primarily by healthcare professionals in the management of chronic and acute wounds, including diabetic foot ulcers and other hard-to-heal wounds.