BidaskClub upgraded shares of MiMedx Group (NASDAQ:MDXG) from a sell rating to a hold rating in a research report released on Thursday.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of MiMedx Group from a hold rating to a sell rating in a report on Friday, December 8th. Piper Jaffray Companies restated a buy rating and issued a $18.00 price objective on shares of MiMedx Group in a report on Friday, December 1st. Needham & Company LLC restated a buy rating and issued a $21.00 price objective on shares of MiMedx Group in a report on Monday, October 30th. Finally, Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the company a buy rating in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $17.00.
Shares of MiMedx Group (NASDAQ MDXG) traded down $0.08 on Thursday, reaching $13.86. 1,689,100 shares of the company traded hands, compared to its average volume of 1,980,900. The stock has a market cap of $1,540.00, a price-to-earnings ratio of 46.20, a P/E/G ratio of 1.80 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 (EPS) for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $84.60 million for the quarter, compared to analyst estimates of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. MiMedx Group’s revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. equities analysts predict that MiMedx Group will post 0.23 EPS for the current year.
MiMedx Group announced that its Board of Directors has initiated a share buyback program on Monday, October 9th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently modified their holdings of MDXG. Acrospire Investment Management LLC increased its stake 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 purchasing an additional 5,900 shares during the period. Quantbot Technologies LP purchased a new stake in MiMedx Group during the second quarter worth about $109,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in MiMedx Group during the third quarter worth about $119,000. PVG Asset Management Corp purchased a new stake in MiMedx Group during the third quarter worth about $127,000. Finally, Ameritas Investment Partners Inc. increased its stake 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 purchasing an additional 600 shares during the period. Institutional investors own 69.22% of the company’s stock.
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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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