MiMedx Group (NASDAQ:MDXG) Shares Down 6.4% – Time to Sell?

MiMedx Group, Inc (NASDAQ:MDXG) was down 6.4% on Wednesday. The company traded as low as $4.03 and last traded at $3.9610. Approximately 300,430 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,281,910 shares. The stock had previously closed at $4.23.

Analyst Ratings Changes

MDXG has been the subject of a number of research reports. Raymond James Financial set a $8.00 price objective on MiMedx Group in a research report on Monday, August 17th. Wall Street Zen upgraded MiMedx Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Craig Hallum upped their target price on MiMedx Group from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Weiss Ratings raised MiMedx Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of MiMedx Group in a report on Tuesday, September 15th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.57.

MiMedx Group Stock Down 7.9%

The business has a 50-day simple moving average of $4.56 and a two-hundred day simple moving average of $4.09. The company has a market cap of $567.74 million, a price-to-earnings ratio of 97.15 and a beta of 1.18. The company has a quick ratio of 4.79, a current ratio of 5.33 and a debt-to-equity ratio of 0.07.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%. The business had revenue of $64.36 million for the quarter, compared to analyst estimates of $63.46 million. As a group, equities analysts forecast that MiMedx Group, Inc will post -0.10 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MiMedx Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of MiMedx Group in the second quarter valued at approximately $46,795,000. Nantahala Capital Management LLC bought a new stake in shares of MiMedx Group during the 2nd quarter worth $18,355,075. Paradigm Capital Management Inc. NY bought a new stake in shares of MiMedx Group during the 2nd quarter worth $15,681,000. Renaissance Technologies LLC grew its stake in MiMedx Group by 22.4% in the 1st quarter. Renaissance Technologies LLC now owns 3,019,871 shares of the company’s stock valued at $11,928,000 after buying an additional 552,806 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in MiMedx Group by 8.7% in the 1st 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 last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Company Profile

MiMedx Group, Inc is a regenerative healthcare company that develops, manufactures and markets human placental tissue allografts and related biomaterial products. Its products are derived from donated human placental tissue and are processed for use in healthcare settings, including wound care, surgery and orthopedic applications.

The company’s portfolio includes tissue allografts such as EPIFIX, EPIEFFECT, GRAFIX and AMNIOFIX. These products are designed to support the management of chronic and acute wounds, surgical reconstruction and other clinical procedures.