MiMedx Group Inc (MDXG) Upgraded to “B” at TheStreet

TheStreet upgraded shares of MiMedx Group Inc (NASDAQ:MDXG) from a c+ rating to a b rating in a research report released on Thursday.

Several other research analysts also recently commented on MDXG. First Analysis reissued a hold rating on shares of MiMedx Group in a research note on Monday, December 12th. Needham & Company LLC reissued a buy rating and set a $12.00 target price on shares of MiMedx Group in a research note on Thursday, February 23rd. Piper Jaffray Companies began coverage on MiMedx Group in a research note on Friday, March 3rd. They set an overweight rating and a $10.00 target price for the company. Finally, Zacks Investment Research raised MiMedx Group from a sell rating to a hold rating in a research note on Tuesday, February 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. MiMedx Group currently has an average rating of Buy and a consensus target price of $11.00.

Analyst Recommendations for MiMedx Group (NASDAQ:MDXG)

MiMedx Group (NASDAQ:MDXG) traded up 0.23% on Thursday, reaching $8.87. 211,201 shares of the company traded hands. MiMedx Group has a one year low of $6.64 and a one year high of $10.02. The stock has a market capitalization of $940.52 million, a PE ratio of 80.64 and a beta of 0.97. The firm has a 50 day moving average of $8.24 and a 200-day moving average of $8.63.

MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Thursday, February 23rd. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The business had revenue of $69.90 million for the quarter, compared to analyst estimates of $71.13 million. MiMedx Group had a return on equity of 18.18% and a net margin of 8.75%. The firm’s revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, analysts anticipate that MiMedx Group will post $0.30 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in MiMedx Group by 808.5% in the second quarter. Royal Bank of Canada now owns 170,171 shares of the company’s stock valued at $1,358,000 after buying an additional 151,440 shares in the last quarter. Capstone Asset Management Co. increased its position in MiMedx Group by 1.1% in the third quarter. Capstone Asset Management Co. now owns 52,370 shares of the company’s stock valued at $449,000 after buying an additional 590 shares in the last quarter. Patten & Patten Inc. TN increased its position in MiMedx Group by 1.4% in the third quarter. Patten & Patten Inc. TN now owns 29,970 shares of the company’s stock valued at $257,000 after buying an additional 400 shares in the last quarter. Rice Hall James & Associates LLC increased its position in MiMedx Group by 56.9% in the third quarter. Rice Hall James & Associates LLC now owns 324,675 shares of the company’s stock valued at $2,786,000 after buying an additional 117,700 shares in the last quarter. Finally, Boston Advisors LLC increased its position in MiMedx Group by 7.6% in the third quarter. Boston Advisors LLC now owns 66,228 shares of the company’s stock valued at $568,000 after buying an additional 4,690 shares in the last quarter. 50.47% of the stock is owned by institutional investors.

About MiMedx Group

MiMedx Group, Inc (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories.

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