MiMedx Group Inc. (MDXG) Shares Down 2.4%
MiMedx Group Inc. (NASDAQ:MDXG)’s share price dropped 2.4% during mid-day trading on Monday . The company traded as low as $8.86 and last traded at $8.86, with a volume of 849,726 shares. The stock had previously closed at $9.08.
MDXG has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of MiMedx Group in a research report on Wednesday, August 31st. Zacks Investment Research upgraded shares of MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Brean Capital restated a “buy” rating on shares of MiMedx Group in a research report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $10.89.
The company has a 50 day moving average price of $7.72 and a 200 day moving average price of $7.87. The stock has a market capitalization of $974.97 million, a price-to-earnings ratio of 41.99 and a beta of 0.72.
MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by $0.02. The firm had revenue of $57 million for the quarter, compared to the consensus estimate of $56.49 million. MiMedx Group had a return on equity of 22.16% and a net margin of 10.92%. The firm’s revenue was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. Analysts predict that MiMedx Group Inc. will post $0.22 EPS for the current year.
In related news, insider William Charles Taylor sold 20,400 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $7.55, for a total value of $154,020.00. Following the completion of the transaction, the insider now owns 566,566 shares in the company, valued at approximately $4,277,573.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 12.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of MiMedx Group by 1.1% in the second quarter. BlackRock Fund Advisors now owns 6,351,942 shares of the company’s stock worth $50,688,000 after buying an additional 69,330 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of MiMedx Group by 4.8% in the second quarter. Vanguard Group Inc. now owns 4,750,042 shares of the company’s stock worth $37,906,000 after buying an additional 218,072 shares during the last quarter. State Street Corp increased its stake in shares of MiMedx Group by 1.3% in the second quarter. State Street Corp now owns 2,870,698 shares of the company’s stock worth $22,902,000 after buying an additional 36,735 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of MiMedx Group by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,679,090 shares of the company’s stock worth $23,415,000 after buying an additional 27,074 shares during the last quarter. Finally, Atlantic Trust Group LLC acquired a new stake in shares of MiMedx Group during the second quarter worth $11,823,000. Hedge funds and other institutional investors own 44.35% of the company’s stock.
MiMedx Group Company Profile
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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