MiMedx Group (NASDAQ:MDXG) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday, December 27th.
MDXG has been the subject of several other research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $18.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price objective on shares of MiMedx Group in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of MiMedx Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the stock a “buy” rating in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.00.
Shares of MiMedx Group (NASDAQ MDXG) opened at $13.94 on Wednesday. The stock has a market capitalization of $1,550.00, a price-to-earnings ratio of 46.47, a price-to-earnings-growth ratio of 1.73 and a beta of 0.88. MiMedx Group has a 12 month low of $7.64 and a 12 month high of $17.47.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. analysts expect that MiMedx Group will post 0.23 earnings per share for the current year.
MiMedx Group announced that its Board of Directors has initiated a stock buyback program on Monday, October 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the medical equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC lifted its stake in MiMedx Group by 678.9% in the second quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock worth $101,000 after purchasing an additional 5,900 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of MiMedx Group during the second quarter valued at approximately $109,000. Ameritas Investment Partners Inc. raised its stake in shares of MiMedx Group by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock valued at $129,000 after acquiring an additional 600 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of MiMedx Group during the third quarter valued at approximately $119,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of MiMedx Group during the second quarter valued at approximately $157,000. 69.21% of the stock is owned by institutional investors and hedge funds.
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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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