MiMedx Group, Inc (NASDAQ:MDXG) posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08, MarketWatch Earnings reports. The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. MiMedx Group’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. MiMedx Group updated its FY17 guidance to $0.31-0.32 EPS.
Shares of MiMedx Group (NASDAQ MDXG) traded down $0.34 on Friday, reaching $12.36. The company’s stock had a trading volume of 1,782,400 shares, compared to its average volume of 1,718,501. The company has a market cap of $1,410.14, a price-to-earnings ratio of 60.48, a price-to-earnings-growth ratio of 3.02 and a beta of 0.91. MiMedx Group has a 52-week low of $7.64 and a 52-week high of $17.47.
MiMedx Group declared that its Board of Directors has approved a share buyback plan on Wednesday, July 26th that permits the company to repurchase $14.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
MDXG has been the subject of several research analyst reports. Needham & Company LLC upped their price objective on MiMedx Group from $20.00 to $21.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 5th. Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. BidaskClub lowered MiMedx Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Lake Street Capital boosted their target price on MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 price target on shares of MiMedx Group in a research note on Sunday, August 20th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. MiMedx Group presently has an average rating of “Hold” and a consensus price target of $15.40.
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About MiMedx Group
MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.
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