MiMedx Group (NASDAQ:MDXG) Shares Gap Down – What’s Next?

MiMedx Group, Inc (NASDAQ:MDXG) gapped down prior to trading on Thursday. The stock had previously closed at $3.95, but opened at $3.62. MiMedx Group shares last traded at $3.6750, with a volume of 319,713 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MDXG. Seaport Research Partners cut shares of MiMedx Group to a “neutral” rating in a report on Monday, August 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of MiMedx Group in a report on Tuesday, September 15th. Raymond James Financial set a $8.00 price objective on MiMedx Group in a research report on Monday, August 17th. Craig Hallum raised their price objective on MiMedx Group from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings raised MiMedx Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MiMedx Group has an average rating of “Moderate Buy” and an average price target of $8.14.

MiMedx Group Price Performance

The stock’s fifty day moving average price is $4.50 and its 200-day moving average price is $4.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.33 and a quick ratio of 4.79. The firm has a market cap of $534.21 million, a price-to-earnings ratio of 91.65 and a beta of 1.18.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.01) EPS for the quarter. MiMedx Group had a return on equity of 12.09% and a net margin of 1.76%. The firm had revenue of $62.28 million during the quarter, compared to analyst estimates of $68.56 million. Equities research analysts predict that MiMedx Group, Inc will post -0.10 EPS for the current fiscal year.

Institutional Trading of MiMedx Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Vise Technologies Inc. acquired a new position in MiMedx Group during the third quarter valued at $83,000. State of Wyoming boosted its position in MiMedx Group by 347.2% during the 3rd quarter. State of Wyoming now owns 324,492 shares of the company’s stock worth $1,512,000 after acquiring an additional 251,932 shares during the period. Isthmus Partners LLC boosted its position in MiMedx Group by 3.5% during the 3rd quarter. Isthmus Partners LLC now owns 549,411 shares of the company’s stock worth $2,560,000 after acquiring an additional 18,702 shares during the period. Quadrant Capital Group LLC grew its stake in MiMedx Group by 59.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 141,091 shares of the company’s stock valued at $662,000 after acquiring an additional 52,824 shares in the last quarter. Finally, Abel Hall LLC grew its stake in MiMedx Group by 18.0% during the 3rd quarter. Abel Hall LLC now owns 80,573 shares of the company’s stock valued at $375,000 after acquiring an additional 12,284 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

About MiMedx Group

MiMedx Group, Inc (NASDAQ: MDXG) is a biotechnology company focused on developing and commercializing human placental tissue allografts for wound care and other medical applications. The company’s products are derived from donated placental tissue and are processed using its proprietary PURION technology platform.

MiMedx’s portfolio includes tissue-based products such as EPIFIX and EPICORD, which are used primarily by healthcare professionals in the management of chronic and acute wounds, including diabetic foot ulcers and other hard-to-heal wounds.