MiMedx Group Inc (NASDAQ:MDXG) has been assigned an average rating of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.00.
A number of research analysts have recently issued reports on MDXG shares. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a research note on Friday, December 1st. Zacks Investment Research downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, December 8th. Lake Street Capital set a $18.00 price objective on MiMedx Group and gave the company a “buy” rating in a research note on Thursday, December 14th. BidaskClub downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $21.00 price objective on shares of MiMedx Group in a research note on Monday, October 30th.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC raised 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 worth $101,000 after buying an additional 5,900 shares during the period. Quantbot Technologies LP acquired a new position in MiMedx Group during the 2nd quarter worth approximately $109,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in MiMedx Group during the 3rd quarter worth approximately $119,000. PVG Asset Management Corp acquired a new position in MiMedx Group during the 3rd quarter worth approximately $127,000. Finally, Ameritas Investment Partners Inc. raised its stake in 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 buying an additional 600 shares during the period. 69.21% of the stock is currently owned by institutional investors and hedge funds.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $84.60 million for the quarter, compared to the consensus estimate 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 was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. equities analysts predict that MiMedx Group will post 0.23 EPS for the current fiscal year.
MiMedx Group declared that its board has authorized a share repurchase program on Monday, October 9th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
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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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