MiMedx Group (NASDAQ:MDXG) Price Target Raised to $8.00

MiMedx Group (NASDAQ:MDXG) had its price objective increased by Craig Hallum from $6.00 to $8.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on MDXG. Seaport Research Partners cut shares of MiMedx Group to a “neutral” rating in a report on Monday, August 17th. Raymond James Financial set a $8.00 price target on shares of MiMedx Group in a report on Monday, August 17th. Citizens Jmp reduced their price target on shares of MiMedx Group from $7.00 to $6.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Weiss Ratings restated a “sell (d)” rating on shares of MiMedx Group in a report on Thursday, August 13th. Finally, Wall Street Zen lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MiMedx Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.57.

MiMedx Group Trading Down 0.2%

MiMedx Group stock opened at $4.50 on Thursday. MiMedx Group has a 12 month low of $3.03 and a 12 month high of $7.97. The company has a market capitalization of $655.92 million, a price-to-earnings ratio of 112.53 and a beta of 1.45. The business’s fifty day simple moving average is $4.18 and its two-hundred day simple moving average is $4.09. The company has a current ratio of 5.33, a quick ratio of 4.79 and a debt-to-equity ratio of 0.07.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $64.36 million during the quarter, compared to the consensus estimate of $63.46 million. MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%. As a group, equities analysts predict that MiMedx Group will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MiMedx Group

A number of hedge funds have recently bought and sold shares of MDXG. Royal Bank of Canada lifted its stake in MiMedx Group by 1.4% during the 1st quarter. Royal Bank of Canada now owns 982,532 shares of the company’s stock valued at $7,466,000 after acquiring an additional 13,629 shares during the period. AQR Capital Management LLC grew its stake in shares of MiMedx Group by 42.6% in the first quarter. AQR Capital Management LLC now owns 14,374 shares of the company’s stock worth $109,000 after acquiring an additional 4,296 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of MiMedx Group during the first quarter valued at approximately $232,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MiMedx Group by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,518 shares of the company’s stock valued at $559,000 after purchasing an additional 4,049 shares during the last quarter. Finally, Millennium Management LLC lifted its position in MiMedx Group by 93.9% during the first quarter. Millennium Management LLC now owns 1,230,984 shares of the company’s stock valued at $9,355,000 after purchasing an additional 596,016 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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.