MiMedx Group, Inc (NASDAQ:MDXG)‘s stock had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies in a report issued on Friday. They presently have a $18.00 target price on the medical equipment provider’s stock. Piper Jaffray Companies’ price target points to a potential upside of 62.45% from the company’s previous close.

MDXG has been the subject of several other research reports. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price target on shares of MiMedx Group in a research report on Tuesday, November 14th. Zacks Investment Research downgraded MiMedx Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Lake Street Capital lifted their price objective on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.40.

MiMedx Group (NASDAQ:MDXG) traded down $0.02 on Friday, hitting $11.08. The stock had a trading volume of 397,333 shares, compared to its average volume of 1,729,487. The stock has a market cap of $1,230.00, a price-to-earnings ratio of 52.86, a PEG ratio of 2.64 and a beta of 0.91. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $17.47.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.06 EPS. sell-side analysts anticipate that MiMedx Group will post 0.24 EPS for the current fiscal year.

MiMedx Group announced that its board has approved a stock repurchase program on Monday, October 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the medical equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its holdings in MiMedx Group by 678.9% in 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 in the last quarter. Quantbot Technologies LP bought a new stake in shares of MiMedx Group during the 2nd quarter valued at about $109,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of MiMedx Group during the 3rd quarter valued at about $119,000. PVG Asset Management Corp bought a new stake in shares of MiMedx Group during the 3rd quarter valued at about $127,000. Finally, Ameritas Investment Partners Inc. grew its stake 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 valued at $129,000 after purchasing an additional 600 shares during the period. Institutional investors own 62.24% of the company’s stock.

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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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