MiMedx Group (NASDAQ:MDXG) Shares Up 3.4% Following Insider Buying Activity

MiMedx Group, Inc. (NASDAQ:MDXG)’s stock price traded up 3.4% on Monday following insider buying activity. The stock traded as high as $6.44 and last traded at $6.54. 94,907 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 677,012 shares. The stock had previously closed at $6.32.

Specifically, CEO Joseph H. Capper bought 200,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $6.34 per share, for a total transaction of $1,268,000.00. Following the transaction, the chief executive officer now directly owns 529,530 shares of the company’s stock, valued at approximately $3,357,220.20. The trade was a 60.69 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have commented on MDXG shares. StockNews.com raised MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of MiMedx Group in a report on Thursday, February 27th.

MiMedx Group Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53. The stock has a 50 day simple moving average of $7.34 and a two-hundred day simple moving average of $8.10. The company has a market cap of $976.31 million, a price-to-earnings ratio of 12.02 and a beta of 1.85.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. MiMedx Group had a net margin of 23.86% and a return on equity of 26.21%. The firm had revenue of $88.21 million during the quarter, compared to analyst estimates of $86.32 million. On average, equities research analysts predict that MiMedx Group, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MDXG. IMG Wealth Management Inc. acquired a new position in shares of MiMedx Group in the 4th quarter valued at $28,000. Virtus Fund Advisers LLC acquired a new position in MiMedx Group during the 4th quarter worth about $35,000. Van ECK Associates Corp acquired a new position in MiMedx Group in the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC grew its position in MiMedx Group by 77.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company’s stock valued at $63,000 after acquiring an additional 2,837 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in MiMedx Group during the fourth quarter worth about $88,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

MiMedx Group Company Profile

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.