MiMedx Group (NASDAQ:MDXG) Stock Price Down 5.6% - What's Next?
MiMedx Group's stock (NASDAQ:MDXG) fell 5.6% during mid-day trading, with a trading volume decline of 32% from the average. Analysts have mixed ratings, with Wall Street Zen upgrading to "strong-buy" and Cantor Fitzgerald raising the price target to $12.00. The company reported a quarterly loss of $0.03 per share with $67.69 million in revenue. Insider trading activity and institutional investor changes were noted, with 79.15% of the stock owned by institutions.
MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report)'s stock price traded down 5.6% during mid-day trading on Tuesday . The company traded as low as $6.69 and last traded at $6.7050. 487,460 shares were traded during trading, a decline of 32% from the average session volume of 711,903 shares. The stock had previously closed at $7.10.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Wall Street Zen upgraded MiMedx Group from a "buy" rating to a "strong-buy" rating in a report on Sunday, November 2nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of MiMedx Group in a research report on Thursday. Finally, Cantor Fitzgerald increased their price target on shares of MiMedx Group from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, MiMedx Group presently has an average rating of "Moderate Buy" and a consensus target price of $12.00.
Get Our Latest Analysis on MiMedx Group
MiMedx Group Trading Down 5.3%
The business's 50-day simple moving average is $7.07 and its 200-day simple moving average is $6.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.90 and a current ratio of 4.39. The company has a market capitalization of $995.99 million, a price-to-earnings ratio of 24.87 and a beta of 1.70.
MiMedx Group (NASDAQ:MDXG - Get Free Report) last announced its earnings results on Monday, November 13th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $67.69 million during the quarter. MiMedx Group had a return on equity of 28.35% and a net margin of 10.38%. On average, research analysts expect that MiMedx Group, Inc will post 0.3 earnings per share for the current fiscal year.
Insider Buying and Selling at MiMedx Group
In other news, insider Kimberly Maersk-Moller sold 58,300 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $7.42, for a total value of $432,586.00. Following the completion of the sale, the insider owned 236,982 shares of the company's stock, valued at approximately $1,758,406.44. This represents a 19.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On MiMedx Group
Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of MiMedx Group during the 1st quarter worth approximately $595,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MiMedx Group by 18.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,713 shares of the company's stock worth $302,000 after buying an additional 6,090 shares during the last quarter. Truist Financial Corp grew its holdings in shares of MiMedx Group by 80.8% during the second quarter. Truist Financial Corp now owns 96,250 shares of the company's stock valued at $588,000 after buying an additional 43,000 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of MiMedx Group by 12.0% during the second quarter. Harbor Capital Advisors Inc. now owns 1,169,195 shares of the company's stock valued at $7,144,000 after buying an additional 125,519 shares during the last quarter. Finally, HB Wealth Management LLC bought a new stake in shares of MiMedx Group during the second quarter worth about $156,000. Institutional investors own 79.15% of the company's stock.
MiMedx Group Company Profile
(Get Free Report)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.
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