MiMedx Group (NASDAQ:MDXG) Receives Downgrade From Needham. Will Other Analysts Follow Suit?

February 21, 2018 - By Marguerite Chambers

 MiMedx Group (NASDAQ:MDXG) Receives Downgrade From Needham. Will Other Analysts Follow Suit?

Investors sentiment decreased to 1.97 in Q3 2017. Its down 0.05, from 2.02 in 2017Q2. It is negative, as 21 investors sold MiMedx Group, Inc. shares while 44 reduced holdings. 48 funds opened positions while 80 raised stakes. 77.22 million shares or 15.28% more from 66.99 million shares in 2017Q2 were reported.

Matarin Mgmt Limited Liability Corporation reported 0.7% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Stephens Grp Ltd Liability Company owns 990,262 shares. Westwood Management Il reported 245,000 shares. The Tennessee-based State Of Tennessee Treasury Department has invested 0.01% in MiMedx Group, Inc. (NASDAQ:MDXG). Invesco Ltd reported 0% in MiMedx Group, Inc. (NASDAQ:MDXG). Lpl Ltd reported 53,832 shares. Royal Bank Of Canada reported 225,804 shares. Bridgeway Cap has invested 0% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Louisiana State Employees Retirement has invested 0.02% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Lourd Capital Limited Liability Com has 31,120 shares. Washington Bank has 5,300 shares. Murphy Capital Management stated it has 22,700 shares or 0.04% of all its holdings. Citadel Advsrs Llc stated it has 376,303 shares. International Grp Incorporated has invested 0% in MiMedx Group, Inc. (NASDAQ:MDXG). Parametric Port Assoc Ltd Llc stated it has 203,998 shares.

MiMedx Group (NASDAQ:MDXG) Receives a Downgrade

Needham cut shares of MiMedx Group (NASDAQ:MDXG) stock from a “Strong Buy” rating to a “Hold” rating in a research note shared with investors and clients on 20 February.

Investors sentiment decreased to 1.97 in Q3 2017. Its down 0.05, from 2.02 in 2017Q2. It is negative, as 21 investors sold MiMedx Group, Inc. shares while 44 reduced holdings. 48 funds opened positions while 80 raised stakes. 77.22 million shares or 15.28% more from 66.99 million shares in 2017Q2 were reported.

Matarin Mgmt Limited Liability Corporation reported 0.7% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Stephens Grp Ltd Liability Company owns 990,262 shares. Westwood Management Il reported 245,000 shares. The Tennessee-based State Of Tennessee Treasury Department has invested 0.01% in MiMedx Group, Inc. (NASDAQ:MDXG). Invesco Ltd reported 0% in MiMedx Group, Inc. (NASDAQ:MDXG). Lpl Ltd reported 53,832 shares. Royal Bank Of Canada reported 225,804 shares. Bridgeway Cap has invested 0% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Louisiana State Employees Retirement has invested 0.02% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Lourd Capital Limited Liability Com has 31,120 shares. Washington Bank has 5,300 shares. Murphy Capital Management stated it has 22,700 shares or 0.04% of all its holdings. Citadel Advsrs Llc stated it has 376,303 shares. International Grp Incorporated has invested 0% in MiMedx Group, Inc. (NASDAQ:MDXG). Parametric Port Assoc Ltd Llc stated it has 203,998 shares.

MiMedx Group, Inc. (NASDAQ:MDXG) Ratings Coverage

Among 8 analysts covering MiMedx Group (NASDAQ:MDXG), 5 have Buy rating, 2 Sell and 1 Hold. Therefore 63% are positive. MiMedx Group has $21.0 highest and $9 lowest target. $14.71’s average target is 65.00% above currents $8.915 stock price. MiMedx Group had 28 analyst reports since July 29, 2015 according to SRatingsIntel. Aegis Capital initiated MiMedx Group, Inc. (NASDAQ:MDXG) on Tuesday, November 8 with “Buy” rating. Needham maintained it with “Buy” rating and $13 target in Wednesday, October 14 report. As per Friday, October 30, the company rating was upgraded by Northland Capital. As per Monday, October 30, the company rating was maintained by Needham. The rating was maintained by Piper Jaffray on Thursday, July 13 with “Buy”. The firm has “Buy” rating given on Tuesday, October 10 by Needham. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Buy” rating given on Friday, December 1 by Needham. The rating was maintained by Needham with “Buy” on Friday, July 14. Needham maintained the stock with “Buy” rating in Monday, June 26 report. The firm earned “Buy” rating on Monday, January 8 by Needham.

The stock increased 1.89% or $0.165 during the last trading session, reaching $8.915. About 6.72M shares traded or 207.09% up from the average. MiMedx Group, Inc. (NASDAQ:MDXG) has risen 107.87% since February 21, 2017 and is uptrending. It has outperformed by 91.17% the S&P500.

Analysts await MiMedx Group, Inc. (NASDAQ:MDXG) to report earnings on February, 22. They expect $0.11 EPS, up 120.00 % or $0.06 from last year’s $0.05 per share. MDXG’s profit will be $12.21M for 20.26 P/E if the $0.11 EPS becomes a reality. After $0.05 actual EPS reported by MiMedx Group, Inc. for the previous quarter, Wall Street now forecasts 120.00 % EPS growth.

MiMedx Group, Inc., a biopharmaceutical company, develops and markets regenerative biologics utilizing human placental tissue allografts with patent-protected processes for various sectors of healthcare. The company has market cap of $989.88 million. It processes the human placental tissue utilizing its proprietary PURION Process to produce allografts. It has a 28.67 P/E ratio. The company's proprietary processing methodology employs aseptic processing techniques in addition to terminal sterilization.

More notable recent MiMedx Group, Inc. (NASDAQ:MDXG) news were published by: Prnewswire.com which released: “Block & Leviton LLP Investigates MiMedx Group, Inc. (MDXG) Following Internal …” on February 20, 2018, also Prnewswire.com with their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” published on February 20, 2018, Prnewswire.com published: “RM LAW Announces Investigation of MiMedx Group, Inc.” on February 20, 2018. More interesting news about MiMedx Group, Inc. (NASDAQ:MDXG) were released by: Prnewswire.com and their article: “Wolf Popper LLP Announces Investigation on Behalf of Investors in MiMedx Group …” published on February 20, 2018 as well as Seekingalpha.com‘s news article titled: “Buy The Pullback In MiMedx” with publication date: February 20, 2018.

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