BidaskClub upgraded shares of MiMedx Group (NASDAQ:MDXG) from a sell rating to a hold rating in a report published on Thursday.
A number of other research analysts have also commented on the company. Zacks Investment Research lowered MiMedx Group from a hold rating to a sell rating in a research report on Friday, December 8th. Piper Jaffray Companies reaffirmed a buy rating and set a $18.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Needham & Company LLC reaffirmed a buy rating and set a $21.00 price target on shares of MiMedx Group in a research report on Monday, October 30th. Finally, Lake Street Capital set a $18.00 price target on MiMedx Group and gave the company a buy rating in a research report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. MiMedx Group has a consensus rating of Hold and a consensus price target of $17.00.
MiMedx Group (NASDAQ:MDXG) traded down $0.08 on Thursday, reaching $13.86. The company’s stock had a trading volume of 1,689,100 shares, compared to its average volume of 1,980,900. The company has a market cap of $1,540.00, a price-to-earnings ratio of 46.20, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. MiMedx Group has a fifty-two week low of $7.64 and a fifty-two week high of $17.47.
MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The business 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%. MiMedx Group’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 EPS. research analysts expect that MiMedx Group will post 0.23 EPS for the current year.
MiMedx Group declared that its Board of Directors has initiated a stock repurchase 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 buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Several large investors have recently made changes to their positions in MDXG. Schwab Charles Investment Management Inc. raised its position in shares of MiMedx Group by 8.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 456,432 shares of the medical equipment provider’s stock worth $6,833,000 after acquiring an additional 37,117 shares in the last quarter. First Trust Advisors LP raised its position in shares of MiMedx Group by 53.3% in the 2nd quarter. First Trust Advisors LP now owns 112,179 shares of the medical equipment provider’s stock worth $1,679,000 after acquiring an additional 38,992 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of MiMedx Group by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,346,532 shares of the medical equipment provider’s stock worth $20,158,000 after acquiring an additional 22,024 shares in the last quarter. Legal & General Group Plc raised its position in shares of MiMedx Group by 10.9% in the 2nd quarter. Legal & General Group Plc now owns 183,776 shares of the medical equipment provider’s stock worth $2,750,000 after acquiring an additional 18,006 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of MiMedx Group by 59.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 30,561 shares of the medical equipment provider’s stock worth $457,000 after acquiring an additional 11,367 shares in the last quarter. 69.22% of the stock is owned by hedge funds and other institutional investors.
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MiMedx Group Company Profile
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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