MiMedx Group Inc. (NASDAQ:MDXG) has earned an average rating of “Buy” from the eight analysts that are currently covering the firm. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $11.00.

MDXG has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $12.00 price target on shares of MiMedx Group in a research note on Wednesday, August 31st. Brean Capital restated a “buy” rating on shares of MiMedx Group in a research note on Wednesday, June 29th. Finally, Zacks Investment Research upgraded MiMedx Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th.

In related news, insider William Charles Taylor sold 20,400 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $7.55, for a total transaction of $154,020.00. Following the sale, the insider now owns 566,566 shares in the company, valued at approximately $4,277,573.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.30% of the company’s stock.

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Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its stake in MiMedx Group by 1.1% in the second quarter. BlackRock Fund Advisors now owns 6,351,942 shares of the company’s stock valued at $50,688,000 after buying an additional 69,330 shares during the last quarter. Vanguard Group Inc. raised its stake in MiMedx Group by 4.8% in the second quarter. Vanguard Group Inc. now owns 4,750,042 shares of the company’s stock valued at $37,906,000 after buying an additional 218,072 shares during the last quarter. State Street Corp raised its stake in MiMedx Group by 1.3% in the second quarter. State Street Corp now owns 2,870,698 shares of the company’s stock valued at $22,902,000 after buying an additional 36,735 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in 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 valued at $23,415,000 after buying an additional 27,074 shares during the last quarter. Finally, Atlantic Trust Group LLC bought a new stake in MiMedx Group during the second quarter valued at $11,823,000. Institutional investors own 44.35% of the company’s stock.

MiMedx Group (NASDAQ:MDXG) traded up 0.612% during mid-day trading on Wednesday, reaching $9.045. 344,956 shares of the company traded hands. The company’s 50 day moving average price is $7.75 and its 200 day moving average price is $7.87. MiMedx Group has a 12-month low of $6.64 and a 12-month high of $10.55. The firm has a market capitalization of $995.33 million, a P/E ratio of 42.867 and a beta of 0.72.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. MiMedx Group had a return on equity of 22.16% and a net margin of 10.92%. The business earned $57 million during the quarter, compared to the consensus estimate of $56.49 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. Equities research analysts predict that MiMedx Group will post $0.22 EPS for the current year.

About MiMedx Group

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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