MiMedx Group Inc (MDXG) Price Target Increased to $18.00 by Analysts at Lake Street Capital
MiMedx Group Inc (NASDAQ:MDXG) had its price target raised by Lake Street Capital from $16.00 to $18.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the medical equipment provider’s stock.
A number of other equities analysts have also recently commented on the company. BidaskClub cut MiMedx Group from a buy rating to a hold rating in a report on Wednesday, July 5th. Needham & Company LLC reissued a buy rating and set a $20.00 price target (up previously from $15.00) on shares of MiMedx Group in a report on Monday, June 26th. Finally, First Analysis cut MiMedx Group from an equal weight rating to an underweight rating and set a $11.00 price target for the company. in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $13.33.
Shares of MiMedx Group (NASDAQ:MDXG) traded down 0.27% during mid-day trading on Friday, hitting $14.92. The stock had a trading volume of 203,287 shares. MiMedx Group has a 52 week low of $6.94 and a 52 week high of $16.20. The firm has a market cap of $1.59 billion, a PE ratio of 78.53 and a beta of 1.04. The stock has a 50 day moving average price of $14.99 and a 200 day moving average price of $11.63.
MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. MiMedx Group had a return on equity of 23.43% and a net margin of 10.56%. The company had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $74.22 million. During the same quarter in the previous year, the firm earned $0.05 EPS. MiMedx Group’s revenue was up 33.3% on a year-over-year basis. Equities research analysts expect that MiMedx Group will post $0.30 EPS for the current fiscal year.
MiMedx Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, July 26th that permits the company to buyback $14.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, insider William Charles Taylor sold 26,571 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $13.74, for a total transaction of $365,085.54. Following the sale, the insider now owns 533,612 shares in the company, valued at approximately $7,331,828.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.40% of the company’s stock.
A number of large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of MiMedx Group by 136,884.9% in the first quarter. BlackRock Inc. now owns 12,105,354 shares of the medical equipment provider’s stock worth $115,364,000 after buying an additional 12,096,517 shares in the last quarter. Tiedemann Wealth Management LLC raised its stake in shares of MiMedx Group by 3,943.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,796,342 shares of the medical equipment provider’s stock worth $17,409,000 after buying an additional 1,751,913 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of MiMedx Group by 53.1% in the first quarter. Wellington Management Group LLP now owns 2,215,575 shares of the medical equipment provider’s stock worth $21,114,000 after buying an additional 768,857 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of MiMedx Group by 21.1% in the first quarter. Macquarie Group Ltd. now owns 3,544,519 shares of the medical equipment provider’s stock worth $33,779,000 after buying an additional 618,222 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY raised its stake in shares of MiMedx Group by 20.8% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,656,000 shares of the medical equipment provider’s stock worth $15,782,000 after buying an additional 285,200 shares in the last quarter. Institutional investors and hedge funds own 55.92% of the company’s stock.
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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