BidaskClub cut shares of MiMedx Group (NASDAQ:MDXG) from a hold rating to a sell rating in a report released on Friday.
MDXG has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of MiMedx Group from a hold rating to a sell rating in a report on Friday, December 8th. ValuEngine downgraded shares of MiMedx Group from a hold rating to a sell rating in a report on Thursday, March 1st. Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the company a buy rating in a report on Thursday, December 14th. Piper Jaffray Companies reiterated a buy rating and issued a $18.00 price objective on shares of MiMedx Group in a report on Friday, November 24th. Finally, Needham & Company LLC downgraded shares of MiMedx Group from a strong-buy rating to a hold rating in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. MiMedx Group currently has an average rating of Hold and an average price target of $14.75.
MiMedx Group (NASDAQ:MDXG) traded up $0.24 during mid-day trading on Friday, reaching $7.36. 6,618,643 shares of the company’s stock were exchanged, compared to its average volume of 6,307,466. The firm has a market cap of $790.57, a P/E ratio of 23.74 and a beta of 1.65. MiMedx Group has a 12 month low of $6.05 and a 12 month high of $18.25.
MiMedx Group announced that its board has approved a share buyback plan on Wednesday, December 13th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the medical equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in MDXG. BlueCrest Capital Management Ltd acquired a new stake in shares of MiMedx Group during the 4th quarter worth approximately $126,000. PVG Asset Management Corp acquired a new stake in shares of MiMedx Group during the 3rd quarter worth approximately $127,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of MiMedx Group by 6,262.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,725 shares of the medical equipment provider’s stock worth $151,000 after buying an additional 12,525 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of MiMedx Group during the 4th quarter worth approximately $153,000. Finally, ClariVest Asset Management LLC increased its holdings in shares of MiMedx Group by 81.1% during the 3rd quarter. ClariVest Asset Management LLC now owns 12,953 shares of the medical equipment provider’s stock worth $154,000 after buying an additional 5,800 shares during the last quarter. Institutional investors and hedge funds own 80.33% of the company’s stock.
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About MiMedx Group
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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