Craig Hallum Lowers MiMedx Group (NASDAQ:MDXG) Price Target to $7.00

MiMedx Group (NASDAQ:MDXG) had its target price cut by analysts at Craig Hallum from $10.00 to $7.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 103.78% from the company’s current price.

A number of other brokerages have also weighed in on MDXG. Citigroup started coverage on shares of MiMedx Group in a research report on Monday, February 23rd. They issued a “market outperform” rating on the stock. Wall Street Zen cut MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Lake Street Capital reduced their price target on shares of MiMedx Group from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. UBS Group set a $10.00 price target on MiMedx Group in a report on Monday, February 23rd. Finally, Cantor Fitzgerald decreased their target price on MiMedx Group from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.17.

MiMedx Group Trading Up 0.1%

Shares of MiMedx Group stock opened at $3.44 on Friday. The stock has a market cap of $510.34 million, a P/E ratio of 10.76 and a beta of 1.65. The company has a quick ratio of 3.92, a current ratio of 4.32 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $4.49 and its 200-day moving average is $5.89. MiMedx Group has a 12-month low of $3.31 and a 12-month high of $7.99.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $118.10 million for the quarter, compared to analyst estimates of $106.78 million. MiMedx Group had a return on equity of 29.37% and a net margin of 11.60%. Equities research analysts predict that MiMedx Group will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MiMedx Group

Several hedge funds have recently made changes to their positions in MDXG. Kemnay Advisory Services Inc. purchased a new position in MiMedx Group during the fourth quarter valued at $48,000. State of Alaska Department of Revenue purchased a new stake in shares of MiMedx Group during the 3rd quarter valued at about $54,000. Headlands Technologies LLC bought a new stake in shares of MiMedx Group in the second quarter worth approximately $72,000. Jain Global LLC purchased a new stake in MiMedx Group in the fourth quarter worth approximately $73,000. Finally, Virtu Financial LLC bought a new stake in shares of MiMedx Group in the fourth quarter worth $78,000. 79.15% of the stock is currently owned by institutional investors.

About MiMedx Group

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.