MiMedx Group Inc (NASDAQ:MDXG) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 41,330,830 shares, an increase of 5.6% from the November 15th total of 39,154,823 shares. Approximately 40.3% of the shares of the stock are short sold. Based on an average trading volume of 1,923,800 shares, the days-to-cover ratio is currently 21.5 days.

MDXG has been the topic of a number of research analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a report on Friday, December 1st. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of MiMedx Group in a research report on Friday, December 1st. BidaskClub downgraded shares of MiMedx Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research downgraded shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Friday, December 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.00.

Shares of MiMedx Group (NASDAQ:MDXG) opened at $12.25 on Wednesday. The firm has a market cap of $1,304.66, a P/E ratio of 55.95, a P/E/G ratio of 2.98 and a beta of 0.87. MiMedx Group has a 52-week low of $7.64 and a 52-week high of $17.47.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. MiMedx Group’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. equities research analysts expect that MiMedx Group will post 0.23 EPS for the current year.

MiMedx Group announced that its Board of Directors has authorized a share repurchase plan on Monday, October 9th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Several large investors have recently made changes to their positions in MDXG. Teachers Advisors LLC increased its stake in MiMedx Group by 2.4% during the 1st quarter. Teachers Advisors LLC now owns 214,141 shares of the medical equipment provider’s stock worth $2,041,000 after purchasing an additional 5,114 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in MiMedx Group by 5.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 419,315 shares of the medical equipment provider’s stock worth $3,997,000 after purchasing an additional 23,037 shares in the last quarter. Credit Suisse AG increased its stake in MiMedx Group by 14.6% during the 1st quarter. Credit Suisse AG now owns 153,040 shares of the medical equipment provider’s stock worth $1,458,000 after purchasing an additional 19,454 shares in the last quarter. Aperio Group LLC increased its stake in MiMedx Group by 32.2% during the 2nd quarter. Aperio Group LLC now owns 26,211 shares of the medical equipment provider’s stock worth $392,000 after purchasing an additional 6,382 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in MiMedx Group by 20.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 363,947 shares of the medical equipment provider’s stock worth $5,449,000 after purchasing an additional 62,972 shares in the last quarter. Institutional investors and hedge funds own 69.36% of the company’s stock.

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MiMedx Group Company Profile

MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.

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