What’s Ahead for MiMedx Group, Inc. (MDXG) After Forming Wedge Down Pattern?

December 7, 2017 - By Marie Mckinney

Investors sentiment increased to 2.02 in Q2 2017. Its up 0.59, from 1.43 in 2017Q1. It improved, as 16 investors sold MiMedx Group, Inc. shares while 41 reduced holdings. 48 funds opened positions while 67 raised stakes. 66.99 million shares or 10.63% more from 60.55 million shares in 2017Q1 were reported.
Voya Invest Mngmt Limited Liability Corp holds 0% in MiMedx Group, Inc. (NASDAQ:MDXG) or 48,181 shares. Thrivent Finance For Lutherans stated it has 61,600 shares. Barclays Public Ltd accumulated 40,624 shares. Silvercrest Asset Mngmt Gp Ltd Limited Liability Company has 0.01% invested in MiMedx Group, Inc. (NASDAQ:MDXG). Macquarie Gru, Australia-based fund reported 3.26 million shares. Bryn Mawr Co reported 0.02% in MiMedx Group, Inc. (NASDAQ:MDXG). Laurion Cap Limited Partnership has 34,800 shares for 0% of their portfolio. Hap Trading Limited Liability Company has invested 0.07% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Quantbot Lp holds 7,329 shares. State Of Alaska Department Of Revenue holds 20,139 shares or 0.02% of its portfolio. Moreover, Jane Street Gru Lc has 0% invested in MiMedx Group, Inc. (NASDAQ:MDXG). Kestrel Invest Mngmt owns 682,000 shares. Qs Investors has 0.04% invested in MiMedx Group, Inc. (NASDAQ:MDXG). Retail Bank Of America Corporation De invested in 0% or 279,168 shares. State Of Tennessee Treasury Department owns 93,237 shares.

Since June 14, 2017, it had 0 insider purchases, and 1 insider sale for $1.16 million activity.

The stock of MiMedx Group, Inc. (MDXG) formed a down wedge with $10.93 target or 4.00 % below today’s $11.39 share price. The 7 months wedge indicates high risk for the $1.27 billion company. If the $10.93 price target is reached, the company will be worth $50.60M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.52% or $0.06 during the last trading session, reaching $11.39. About 1.19M shares traded. MiMedx Group, Inc. (NASDAQ:MDXG) has risen 107.87% since December 8, 2016 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 $12.22M for 25.89 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. (NASDAQ:MDXG) Ratings Coverage

Among 8 analysts covering MiMedx Group (NASDAQ:MDXG), 6 have Buy rating, 2 Sell and 0 Hold. Therefore 75% are positive. MiMedx Group had 22 analyst reports since July 29, 2015 according to SRatingsIntel. Needham initiated the shares of MDXG in report on Thursday, August 3 with “Buy” rating. The stock has “Buy” rating by Needham on Tuesday, November 14. The rating was maintained by Needham with “Buy” on Tuesday, October 10. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Buy” rating given on Friday, December 1 by Needham. The firm has “Buy” rating given on Friday, December 18 by Canaccord Genuity. Needham downgraded MiMedx Group, Inc. (NASDAQ:MDXG) on Wednesday, July 29 to “Buy” rating. On Wednesday, October 14 the stock rating was maintained by Needham with “Buy”. As per Monday, November 16, the company rating was upgraded by Needham. The firm has “Buy” rating given on Thursday, July 27 by Needham. As per Wednesday, January 20, the company rating was maintained by First Analysis.

Another recent and important MiMedx Group, Inc. (NASDAQ:MDXG) news was published by Seekingalpha.com which published an article titled: “MiMedx down 5% on new Viceroy report of misconduct” on November 21, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.