MiMedx Group (NASDAQ:MDXG) Trading Up 5.8% – Here’s Why

MiMedx Group, Inc. (NASDAQ:MDXG)’s stock price was up 5.8% on Tuesday . The company traded as high as $9.13 and last traded at $9.21. Approximately 82,488 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 636,250 shares. The stock had previously closed at $8.71.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $12.00.

MiMedx Group Trading Down 1.5 %

The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.31 billion, a PE ratio of 16.20 and a beta of 1.96. The firm has a 50 day moving average of $9.20 and a 200 day moving average of $7.51.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, October 30th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $84.06 million for the quarter, compared to the consensus estimate of $81.00 million. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. During the same quarter in the prior year, the business earned $0.05 EPS. Equities analysts anticipate that MiMedx Group, Inc. will post 0.3 earnings per share for the current year.

Institutional Investors Weigh In On MiMedx Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDXG. Jane Street Group LLC grew its holdings in shares of MiMedx Group by 133.6% during the third quarter. Jane Street Group LLC now owns 305,652 shares of the company’s stock worth $1,806,000 after buying an additional 174,797 shares during the last quarter. JPMorgan Chase & Co. increased its stake in MiMedx Group by 265.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 297,367 shares of the company’s stock valued at $1,757,000 after purchasing an additional 215,995 shares in the last quarter. Barclays PLC raised its stake in shares of MiMedx Group by 163.9% during the 3rd quarter. Barclays PLC now owns 262,449 shares of the company’s stock worth $1,550,000 after buying an additional 163,005 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of MiMedx Group by 88.6% in the third quarter. Farther Finance Advisors LLC now owns 24,599 shares of the company’s stock valued at $145,000 after purchasing an additional 11,557 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in MiMedx Group by 299.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock valued at $6,074,000 after buying an additional 770,744 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 develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue’s inherent biological properties and regulatory proteins.