MiMedx Group, Inc (NASDAQ:MDXG) shares were down NaN on Wednesday . The company traded as low as $11.65 and last traded at $0.00. Approximately 3,824,942 shares changed hands during mid-day trading, an increase of Infinity from the average daily volume of 0 shares.
A number of research analysts have weighed in on MDXG shares. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 target price on shares of MiMedx Group in a report on Sunday, August 20th. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Needham & Company LLC started coverage on MiMedx Group in a report on Thursday, August 3rd. They issued a “buy” rating on the stock. Lake Street Capital increased their target price on MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. MiMedx Group currently has an average rating of “Hold” and an average price target of $14.83.
MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $84.60 million during the quarter, compared to analysts’ expectations 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 firm posted $0.06 EPS.
MiMedx Group declared that its board has authorized a share repurchase program on Wednesday, July 26th that allows the company to repurchase $14.00 million in shares. This repurchase authorization allows the medical equipment provider to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in MiMedx Group by 491.0% in the 3rd quarter. American Century Companies Inc. now owns 559,122 shares of the medical equipment provider’s stock worth $6,642,000 after purchasing an additional 464,509 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in MiMedx Group in the 3rd quarter worth about $119,000. Stevens Capital Management LP purchased a new stake in MiMedx Group during the 3rd quarter worth approximately $160,000. Old Mutual Global Investors UK Ltd. purchased a new stake in MiMedx Group during the 3rd quarter worth approximately $2,149,000. Finally, Sapphire Star Partners LP purchased a new stake in MiMedx Group during the 3rd quarter worth approximately $152,000. 60.63% of the stock is owned by 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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