Can MiMedx Group, Inc. (MDXG)’s Tomorrow be Different? The Stock Formed a Bearish Wedge Down Chart Pattern

December 7, 2017 - By Stephen Andrade

Investors sentiment increased to 2.02 in Q2 2017. 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.
Northwestern Mutual Wealth Management invested in 0% or 1,000 shares. 57,474 are held by Nationwide Fund Advisors. Creative Planning invested in 0% or 1,000 shares. Pinebridge Investments Limited Partnership invested in 0.01% or 13,438 shares. Ameritas Ptnrs Inc has 0.01% invested in MiMedx Group, Inc. (NASDAQ:MDXG). Metropolitan Life Ins has 71,022 shares for 0.01% of their portfolio. Bogle Invest Mgmt L P De accumulated 0.9% or 824,801 shares. Walleye Trading holds 0% or 7,700 shares. Parkside Fincl Bank And Trust invested 0% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Parallax Volatility Advisers Lp owns 7,258 shares. Macquarie Grp Limited holds 0.09% or 3.26 million shares in its portfolio. Lincoln National stated it has 0.01% of its portfolio in MiMedx Group, Inc. (NASDAQ:MDXG). Geode Mgmt Llc owns 0.01% invested in MiMedx Group, Inc. (NASDAQ:MDXG) for 1.02 million shares. Lakeview Capital Prns Lc holds 0.83% or 67,026 shares. Dupont Capital Management accumulated 134,996 shares.

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 $12.22 million 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 stock has “Buy” rating by Lake Street on Tuesday, April 19. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Sell” rating given on Monday, December 12 by UBS. Needham maintained the shares of MDXG in report on Monday, June 26 with “Buy” rating. The rating was maintained by Canaccord Genuity with “Buy” on Friday, December 18. The firm earned “Buy” rating on Wednesday, July 29 by Needham. The stock of MiMedx Group, Inc. (NASDAQ:MDXG) has “Buy” rating given on Friday, December 1 by Needham. The firm earned “Buy” rating on Thursday, July 13 by Piper Jaffray. On Friday, October 30 the stock rating was upgraded by Northland Capital to “Outperform”. Piper Jaffray maintained MiMedx Group, Inc. (NASDAQ:MDXG) on Friday, August 18 with “Buy” rating. The company was initiated on Tuesday, November 8 by Aegis Capital.

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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