MiMedx Group, Inc (MDXG) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of MiMedx Group, Inc (NASDAQ:MDXG) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “MiMedx is an integrated developer, processor and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. Innovations in Regenerative Biomaterials is the framework behind their mission to give physicians products and tissues to help the body heal itself. Their biomaterial platform technologies include AmnioFix and EpiFix, their tissue technologies processed from human amniotic membrane that is derived from donated placentas. Through their donor program, a mother delivering via full-term Caesarean section birth can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. They process the human amniotic membrane utilizing their proprietary PURION Process, to produce a safe and effective implant. “

MDXG has been the subject of a number of other research reports. BidaskClub cut shares of MiMedx Group from a buy rating to a hold rating in a research note on Saturday, August 26th. Needham & Company LLC boosted their target price on shares of MiMedx Group from $20.00 to $21.00 and gave the stock a strong-buy rating in a research note on Tuesday, September 5th. Piper Jaffray Companies reissued a buy rating and set a $18.00 target price on shares of MiMedx Group in a research note on Sunday, August 20th. Finally, Lake Street Capital boosted their target price on shares of MiMedx Group from $16.00 to $18.00 and gave the stock a buy rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $14.83.

MiMedx Group (MDXG) opened at 12.35 on Tuesday. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $17.47. The firm’s 50 day moving average is $13.95 and its 200 day moving average is $13.83. The company has a market cap of $1.32 billion, a P/E ratio of 65.00 and a beta of 0.91.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The company’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. Equities research analysts anticipate that MiMedx Group will post $0.31 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “MiMedx Group, Inc (MDXG) Downgraded by Zacks Investment Research to “Sell”” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/11/mimedx-group-inc-mdxg-downgraded-by-zacks-investment-research-to-sell.html.

MiMedx Group declared that its board has authorized a share repurchase program on Wednesday, July 26th that allows the company to buyback $14.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its position in MiMedx Group by 678.9% during the second quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 5,900 shares during the last quarter. Quantbot Technologies LP acquired a new position in MiMedx Group during the second quarter worth about $109,000. Ameritas Investment Partners Inc. boosted its position in 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 worth $129,000 after acquiring an additional 600 shares during the last quarter. Victory Capital Management Inc. boosted its position in MiMedx Group by 15.4% during the first quarter. Victory Capital Management Inc. now owns 14,616 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 1,952 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in MiMedx Group during the second quarter worth about $157,000. Hedge funds and other institutional investors own 60.37% of the company’s stock.

MiMedx Group Company Profile

MiMedx Group, Inc is an

According to Zacks, “MiMedx is an integrated developer, processor and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. Innovations in Regenerative Biomaterials is the framework behind their mission to give physicians products and tissues to help the body heal itself. Their biomaterial platform technologies include AmnioFix and EpiFix, their tissue technologies processed from human amniotic membrane that is derived from donated placentas. Through their donor program, a mother delivering via full-term Caesarean section birth can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. They process the human amniotic membrane utilizing their proprietary PURION Process, to produce a safe and effective implant. “

MDXG has been the subject of a number of other research reports. BidaskClub cut shares of MiMedx Group from a buy rating to a hold rating in a research note on Saturday, August 26th. Needham & Company LLC boosted their target price on shares of MiMedx Group from $20.00 to $21.00 and gave the stock a strong-buy rating in a research note on Tuesday, September 5th. Piper Jaffray Companies reissued a buy rating and set a $18.00 target price on shares of MiMedx Group in a research note on Sunday, August 20th. Finally, Lake Street Capital boosted their target price on shares of MiMedx Group from $16.00 to $18.00 and gave the stock a buy rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $14.83.

MiMedx Group (MDXG) opened at 12.35 on Tuesday. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $17.47. The firm’s 50 day moving average is $13.95 and its 200 day moving average is $13.83. The company has a market cap of $1.32 billion, a P/E ratio of 65.00 and a beta of 0.91.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The company’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. Equities research analysts anticipate that MiMedx Group will post $0.31 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “MiMedx Group, Inc (MDXG) Downgraded by Zacks Investment Research to “Sell”” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://ledgergazette.com/2017/10/11/mimedx-group-inc-mdxg-downgraded-by-zacks-investment-research-to-sell.html.

MiMedx Group declared that its board has authorized a share repurchase program on Wednesday, July 26th that allows the company to buyback $14.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its position in MiMedx Group by 678.9% during the second quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 5,900 shares during the last quarter. Quantbot Technologies LP acquired a new position in MiMedx Group during the second quarter worth about $109,000. Ameritas Investment Partners Inc. boosted its position in 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 worth $129,000 after acquiring an additional 600 shares during the last quarter. Victory Capital Management Inc. boosted its position in MiMedx Group by 15.4% during the first quarter. Victory Capital Management Inc. now owns 14,616 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 1,952 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in MiMedx Group during the second quarter worth about $157,000. Hedge funds and other institutional investors own 60.37% of the company’s stock.

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.

Analyst Recommendations for MiMedx Group (NASDAQ:MDXG)

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