Could MiMedx Group, Inc. (MDXG) Recover After Forming a Bearish Wedge Down?

December 7, 2017 - By Michael Collier

Investors sentiment increased to 2.02 in 2017 Q2. Its up 0.59, from 1.43 in 2017Q1. It increased, 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.
Us Bank & Trust De holds 0% or 1,407 shares. Thrivent Fincl For Lutherans invested 0% in MiMedx Group, Inc. (NASDAQ:MDXG). Parsons Mngmt Ri invested in 0.75% or 412,627 shares. Quantbot L P invested in 0.01% or 7,329 shares. Tiedemann Wealth Limited, New York-based fund reported 1.58M shares. Northern Corp accumulated 1.38M shares. Bogle Management L P De holds 824,801 shares or 0.9% of its portfolio. Principal Gru reported 794,780 shares. Savings Bank Of America Corporation De holds 279,168 shares or 0% of its portfolio. Vanguard Gru Incorporated Inc reported 5.66 million shares stake. Invesco owns 383,984 shares for 0% of their portfolio. Homrich & Berg holds 0.03% or 23,367 shares. Zurcher Kantonalbank (Zurich Cantonalbank) reported 3,206 shares or 0% of all its holdings. Manufacturers Life The invested in 0.02% or 1.08M shares. Morgan Stanley stated it has 0% of its portfolio 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. Needham maintained it with “Buy” rating and $13 target in Wednesday, October 14 report. On Thursday, July 13 the stock rating was maintained by Piper Jaffray with “Buy”. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) earned “Buy” rating by Piper Jaffray on Thursday, September 21. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Buy” rating given on Tuesday, April 19 by Lake Street. The rating was maintained by First Analysis with “Overweight” on Wednesday, January 20. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Buy” rating given on Friday, August 18 by Piper Jaffray. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Buy” rating given on Friday, December 1 by Needham. As per Thursday, August 3, the company rating was initiated by Needham. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) earned “Buy” rating by Needham on Monday, October 30. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Sell” rating given on Monday, December 12 by UBS.

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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