MiMedx Group, Inc (MDXG) Receives Consensus Recommendation of “Hold” from Analysts
Shares of MiMedx Group, Inc (NASDAQ:MDXG) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $12.00.
A number of analysts have commented on the stock. BidaskClub upgraded shares of MiMedx Group from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC assumed coverage on shares of MiMedx Group in a report on Thursday, August 3rd. They issued a “buy” rating for the company. Lake Street Capital increased their price objective on shares of MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, First Analysis downgraded shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a report on Tuesday, May 23rd.
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In other news, insider William Charles Taylor sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $14.52, for a total transaction of $1,161,600.00. Following the completion of the sale, the insider now owns 547,424 shares in the company, valued at approximately $7,948,596.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.40% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. increased its stake in shares of MiMedx Group by 56.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 74,013 shares of the medical equipment provider’s stock worth $656,000 after buying an additional 26,713 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of MiMedx Group by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 209,027 shares of the medical equipment provider’s stock worth $1,852,000 after buying an additional 3,438 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of MiMedx Group by 45.2% in the first quarter. OppenheimerFunds Inc. now owns 22,860 shares of the medical equipment provider’s stock worth $217,000 after buying an additional 7,112 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of MiMedx Group by 9.5% in the first quarter. Wells Fargo & Company MN now owns 471,131 shares of the medical equipment provider’s stock worth $4,491,000 after buying an additional 41,028 shares in the last quarter. Finally, PEAK6 Investments L.P. purchased a new stake in shares of MiMedx Group during the first quarter worth about $269,000. Institutional investors and hedge funds own 53.75% of the company’s stock.
Shares of MiMedx Group (NASDAQ:MDXG) traded up 0.75% during midday trading on Friday, reaching $14.74. The company’s stock had a trading volume of 295,890 shares. MiMedx Group has a 52 week low of $6.94 and a 52 week high of $16.20. The stock has a market capitalization of $1.58 billion, a PE ratio of 77.58 and a beta of 1.03. The company has a 50 day moving average price of $14.99 and a 200-day moving average price of $11.94.
MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.07. The company had revenue of $76.40 million during the quarter, compared to the consensus estimate of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. MiMedx Group’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, equities research analysts expect that MiMedx Group will post $0.31 EPS for the current year.
MiMedx Group announced that its Board of Directors has initiated a share buyback program on Wednesday, July 26th that permits the company to buyback $14.00 million in 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 board of directors 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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