Analysts Anticipate MiMedx Group, Inc. (NASDAQ:MDXG) Will Announce Quarterly Sales of $60.26 Million

Equities research analysts predict that MiMedx Group, Inc. (NASDAQ:MDXG) will report $60.26 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for MiMedx Group’s earnings. The lowest sales estimate is $59.00 million and the highest is $61.73 million. MiMedx Group reported sales of $64.30 million in the same quarter last year, which indicates a negative year over year growth rate of 6.3%. The company is expected to issue its next quarterly earnings report on Wednesday, November 3rd.

According to Zacks, analysts expect that MiMedx Group will report full year sales of $250.80 million for the current fiscal year, with estimates ranging from $248.30 million to $254.98 million. For the next financial year, analysts expect that the firm will report sales of $271.18 million, with estimates ranging from $250.00 million to $283.06 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover MiMedx Group.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $68.17 million during the quarter, compared to analysts’ expectations of $58.77 million. MiMedx Group had a negative net margin of 31.30% and a negative return on equity of 1,262.51%.

A number of analysts have recently issued reports on MDXG shares. HC Wainwright cut their target price on shares of MiMedx Group from $20.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, September 14th. Northland Securities assumed coverage on shares of MiMedx Group in a report on Monday, July 26th. They set an “outperform” rating and a $23.00 target price on the stock.

A number of large investors have recently modified their holdings of MDXG. Federated Hermes Inc. acquired a new stake in shares of MiMedx Group in the 2nd quarter valued at $33,000. Great West Life Assurance Co. Can bought a new position in shares of MiMedx Group in the 2nd quarter valued at $45,000. Ameritas Investment Partners Inc. bought a new position in shares of MiMedx Group in the 2nd quarter valued at $109,000. Rowland & Co. Investment Counsel ADV bought a new position in shares of MiMedx Group in the 1st quarter valued at $103,000. Finally, Nicholas Hoffman & Company LLC. bought a new position in shares of MiMedx Group in the 2nd quarter valued at $129,000. 50.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ MDXG traded up $0.08 during mid-day trading on Monday, reaching $6.33. 671,260 shares of the company were exchanged, compared to its average volume of 823,723. The company’s 50-day simple moving average is $11.57 and its 200-day simple moving average is $11.06. The stock has a market capitalization of $708.64 million, a P/E ratio of -8.22 and a beta of 1.65. MiMedx Group has a twelve month low of $5.30 and a twelve month high of $15.99.

MiMedx Group Company Profile

MiMedx Group, Inc is a therapeutic biologics company, which engages in the design, manufacture, and marketing of products, and tissue processing services. It serves the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare. Its biomaterial platform technologies include AmnioFix and EpiFix, a tissue allografts derived from amnion and chorion layers of human placental membrane; EpiCord and AmnioCord, a tissue allografts derived from umbilical cord tissue, and AmnioFill, a placental connective tissue matri derived from the placental disc and other placental tissue.

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