MiMedx Group, Inc (MDXG) Posts Quarterly Earnings Results, Hits Estimates

MiMedx Group, Inc (NASDAQ:MDXG) issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08, MarketWatch Earnings reports. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $84.60 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. MiMedx Group updated its FY17 guidance to $0.31-0.32 EPS.

MiMedx Group (NASDAQ MDXG) opened at $12.36 on Monday. MiMedx Group has a 1-year low of $7.64 and a 1-year high of $17.47. The stock has a market cap of $1,372.39, a PE ratio of 58.86, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91.

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MiMedx Group declared that its board has initiated 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 an indication that the company’s management believes its shares are undervalued.

MDXG has been the subject of several recent analyst reports. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a research note on Sunday, August 20th. BidaskClub raised shares of MiMedx Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Needham & Company LLC started coverage on shares of MiMedx Group in a research note on Thursday, August 3rd. They issued a “buy” rating on the stock. Lake Street Capital upped their price target 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. Finally, Zacks Investment Research cut shares of MiMedx Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. MiMedx Group has an average rating of “Hold” and a consensus price target of $15.40.

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.

Earnings History for MiMedx Group (NASDAQ:MDXG)

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