Shares of MiMedx Group Inc (NASDAQ:MDXG) have earned an average rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $17.00.
Several analysts have issued reports on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price target on shares of MiMedx Group in a research report on Sunday, August 20th. BidaskClub lowered MiMedx Group from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Needham & Company LLC boosted their price objective on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 5th. Zacks Investment Research downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, Lake Street Capital set a $18.00 target price on MiMedx Group and gave the stock a “buy” rating in a research report on Thursday.
A number of large investors have recently added to or reduced their stakes in MDXG. Acrospire Investment Management LLC grew its stake in MiMedx Group by 678.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 5,900 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of MiMedx Group during the 2nd quarter worth approximately $109,000. Ameritas Investment Partners Inc. raised its position in shares of MiMedx Group by 7.5% during the 2nd 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 last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of MiMedx Group during the 3rd quarter worth approximately $119,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of MiMedx Group during the 2nd quarter worth approximately $157,000. Institutional investors own 69.36% of the company’s stock.
MiMedx Group (NASDAQ:MDXG) last announced 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 firm had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The firm’s revenue was up 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 EPS. analysts predict that MiMedx Group will post 0.23 EPS for the current year.
MiMedx Group announced that its board has authorized a share buyback program on Monday, October 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the medical equipment provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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.
Receive News & Ratings for MiMedx Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiMedx Group and related companies with MarketBeat.com's FREE daily email newsletter.