MiMedx Group, Inc. (MDXG) Forms Bearish Wedge Down Pattern; Strong Momentum for Sellers

December 7, 2017 - By wolcottdaily

Investors sentiment increased to 2.02 in Q2 2017. Its up 0.59, from 1.43 in 2017Q1. It is positive, 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.
Sanctuary Wealth Advsr Ltd Llc has invested 3.22% in MiMedx Group, Inc. (NASDAQ:MDXG). 187,520 were accumulated by Prudential Fincl. Millrace Asset owns 126,668 shares or 1.8% of their US portfolio. Convergence Invest Ltd Llc reported 50,390 shares or 0.11% of all its holdings. Kestrel Corporation reported 682,000 shares stake. Wellington Mgmt Grp Inc Ltd Liability Partnership has 5.77 million shares for 0.02% of their portfolio. Maplelane Ltd Co reported 1 shares or 0% of all its holdings. State Of Tennessee Treasury Department stated it has 93,237 shares or 0.01% of all its holdings. Ruggie Cap Grp holds 0.07% in MiMedx Group, Inc. (NASDAQ:MDXG) or 6,900 shares. Sei Investments Com reported 515 shares. Manufacturers Life Insurance The invested 0.02% in MiMedx Group, Inc. (NASDAQ:MDXG). Bnp Paribas Arbitrage Sa holds 30,561 shares or 0% of its portfolio. 183,776 were reported by Legal General Grp Inc Public Limited Com. Cwm Limited Liability Corporation holds 2,000 shares. Barclays Public Limited Co has invested 0% in MiMedx Group, Inc. (NASDAQ:MDXG).

Since June 14, 2017, it had 0 insider buys, 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 1.19 million 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 earnings per share, 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 earnings per share 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. The firm has “Sell” rating by UBS given on Monday, December 12. The rating was initiated by Aegis Capital with “Buy” on Tuesday, November 8. Needham maintained the shares of MDXG in report on Tuesday, November 14 with “Buy” rating. First Analysis downgraded MiMedx Group, Inc. (NASDAQ:MDXG) on Tuesday, May 23 to “Underweight” rating. First Analysis maintained it with “Overweight” rating and $15 target in Wednesday, January 20 report. Needham maintained the stock with “Buy” rating in Friday, December 1 report. Northland Capital upgraded it to “Outperform” rating and $10 target in Friday, October 30 report. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) earned “Buy” rating by Needham on Friday, July 14. Needham downgraded MiMedx Group, Inc. (NASDAQ:MDXG) on Wednesday, July 29 to “Buy” rating. The rating was maintained by Needham with “Buy” on Wednesday, October 14.

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.

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