Brokerages Set MiMedx Group, Inc (NASDAQ:MDXG) PT at $9.60

Shares of MiMedx Group, Inc (NASDAQ:MDXG) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $9.60.

Several equities research analysts have recently weighed in on MDXG shares. Wall Street Zen downgraded shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Cantor Fitzgerald reduced their price target on shares of MiMedx Group from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Citizens Jmp started coverage on MiMedx Group in a research note on Monday, February 23rd. They issued a “market outperform” rating and a $10.00 price target for the company. Lake Street Capital lowered their price objective on MiMedx Group from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, January 20th. Finally, Citigroup assumed coverage on MiMedx Group in a research note on Monday, February 23rd. They set a “market outperform” rating on the stock.

Institutional Investors Weigh In On MiMedx Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in MiMedx Group in the fourth quarter worth $48,000. PNC Financial Services Group Inc. raised its holdings in shares of MiMedx Group by 1,808.4% during the second quarter. PNC Financial Services Group Inc. now owns 7,500 shares of the company’s stock worth $46,000 after purchasing an additional 7,107 shares during the period. State of Alaska Department of Revenue bought a new position in shares of MiMedx Group in the 3rd quarter worth about $54,000. Jain Global LLC bought a new position in shares of MiMedx Group in the 4th quarter worth about $73,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of MiMedx Group in the 3rd quarter valued at about $84,000. 79.15% of the stock is owned by institutional investors and hedge funds.

MiMedx Group Stock Performance

MiMedx Group stock opened at $4.13 on Friday. The stock has a market cap of $613.59 million, a P/E ratio of 12.91 and a beta of 1.60. The company has a current ratio of 4.32, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $4.96 and a 200-day moving average of $6.25. MiMedx Group has a 52 week low of $4.08 and a 52 week high of $8.08.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. MiMedx Group had a net margin of 11.60% and a return on equity of 29.37%. The business had revenue of $118.10 million during the quarter, compared to analyst estimates of $106.78 million. On average, analysts expect that MiMedx Group will post 0.3 EPS for the current fiscal year.

MiMedx Group Company Profile

MiMedx Group, Inc is a biopharmaceutical company focused on the development, manufacture and marketing of regenerative biomaterial products derived from human placental tissues. The company’s core mission centers on harnessing the extracellular matrix and growth factors within amniotic and chorionic membranes to support wound healing and surgical applications. MiMedx’s product line leverages proprietary purification processes designed to retain native tissue properties while ensuring sterility and safety.

MiMedx’s principal offerings include amnion/chorion allografts branded under names such as EpiFix® and AmnioFix®, which are indicated for the treatment of acute and chronic wounds—including diabetic foot ulcers, venous leg ulcers and surgical site repair.