MiMedx Group (NASDAQ:MDXG) Shares Up 7.1% – Still a Buy?

Shares of MiMedx Group, Inc (NASDAQ:MDXG) traded up 7.1% during mid-day trading on Thursday. The company traded as high as $3.97 and last traded at $4.0050. Approximately 384,370 shares were traded during mid-day trading, a decline of 70% from the average session volume of 1,288,983 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MDXG. Weiss Ratings raised shares of MiMedx Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. Craig Hallum increased their target price on shares of MiMedx Group from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of MiMedx Group in a research note on Tuesday, September 15th. Wall Street Zen upgraded MiMedx Group from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Seaport Research Partners downgraded MiMedx Group to a “neutral” rating in a report on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, MiMedx Group has a consensus rating of “Moderate Buy” and a consensus target price of $8.57.

MiMedx Group Stock Performance

The company has a quick ratio of 4.79, a current ratio of 5.33 and a debt-to-equity ratio of 0.07. The company has a market cap of $572.84 million, a P/E ratio of 98.27 and a beta of 1.18. The business has a fifty day moving average of $4.54 and a 200 day moving average of $4.08.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%. The company had revenue of $64.36 million during the quarter, compared to analyst estimates of $63.46 million. On average, equities analysts predict that MiMedx Group, Inc will post -0.10 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in MiMedx Group in the 2nd quarter worth $46,795,000. Nantahala Capital Management LLC bought a new stake in shares of MiMedx Group during the 2nd quarter valued at about $18,355,075. Paradigm Capital Management Inc. NY bought a new stake in shares of MiMedx Group during the 2nd quarter valued at about $15,681,000. Renaissance Technologies LLC boosted its stake in shares of MiMedx Group by 22.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,019,871 shares of the company’s stock valued at $11,928,000 after purchasing an additional 552,806 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of MiMedx Group by 8.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,694,002 shares of the company’s stock valued at $10,640,000 after buying an additional 214,633 shares during the period. 79.15% of the stock is currently owned by institutional investors.

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.