Equities analysts expect MiMedx Group, Inc (NASDAQ:MDXG) to report $0.10 earnings per share for the current quarter, according to Zacks. Zero analysts have provided estimates for MiMedx Group’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.09. MiMedx Group posted earnings of $0.07 per share during the same quarter last year, which suggests a positive year over year growth rate of 42.9%. The company is scheduled to report its next earnings report on Thursday, February 22nd.
On average, analysts expect that MiMedx Group will report full year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.31 to $0.32. For the next fiscal year, analysts anticipate that the company will post earnings of $0.46 per share, with EPS estimates ranging from $0.44 to $0.47. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover MiMedx Group.
MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $84.60 million for 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%. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS.
MDXG has been the topic of several recent research reports. Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research report on Sunday, August 20th. Needham & Company LLC increased their price objective on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 5th. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Lake Street Capital increased their price objective on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, BidaskClub cut MiMedx Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.83.
Several hedge funds and other institutional investors have recently modified their holdings of MDXG. Acrospire Investment Management LLC increased its position in shares of MiMedx Group by 678.9% in 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 bought a new position in shares of MiMedx Group in the second quarter worth $109,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of MiMedx Group in the third quarter worth $119,000. Ameritas Investment Partners Inc. increased its position in shares of MiMedx Group by 7.5% in 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. Finally, Sapphire Star Partners LP bought a new position in shares of MiMedx Group in the third quarter worth $152,000. Institutional investors own 60.63% of the company’s stock.
MiMedx Group (MDXG) opened at $12.42 on Monday. The stock has a market capitalization of $1,379.05, a price-to-earnings ratio of 59.14, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91.
MiMedx Group declared that its Board of Directors has approved a share buyback program on Wednesday, July 26th that authorizes the company to repurchase $14.00 million in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
About MiMedx Group
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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