MiMedx Group, Inc (NASDAQ:MDXG)’s share price was down 6.4% on Monday . The company traded as low as $10.97 and last traded at $11.06. Approximately 2,250,642 shares traded hands during trading, an increase of 30% from the average daily volume of 1,727,815 shares. The stock had previously closed at $11.82.

A number of equities analysts have weighed in on MDXG shares. BidaskClub lowered MiMedx Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Needham & Company LLC raised their target price on MiMedx Group from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 5th. Piper Jaffray Companies restated a “buy” rating and set a $18.00 target price on shares of MiMedx Group in a research report on Sunday, August 20th. Finally, Lake Street Capital raised their target price on MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. MiMedx Group currently has a consensus rating of “Hold” and an average target price of $15.40.

The company has a market capitalization of $1,260.00, a PE ratio of 56.29, a P/E/G ratio of 2.81 and a beta of 0.91.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.08. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The firm had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $84.60 million. During the same period last year, the firm earned $0.06 EPS. The company’s quarterly revenue was up 31.4% on a year-over-year basis. equities research analysts forecast that MiMedx Group, Inc will post 0.24 earnings per share for the current year.

MiMedx Group announced that its board has approved a share buyback plan on Wednesday, July 26th that allows the company to buyback $14.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the stock. Kestrel Investment Management Corp acquired a new stake in MiMedx Group in the 2nd quarter worth about $10,210,000. State of Wisconsin Investment Board acquired a new stake in MiMedx Group in the 2nd quarter worth about $1,183,000. Rowland & Co. Investment Counsel ADV acquired a new stake in MiMedx Group in the 2nd quarter worth about $3,040,000. Paradigm Asset Management Co. LLC acquired a new stake in MiMedx Group in the 2nd quarter worth about $167,000. Finally, OppenheimerFunds Inc. boosted its holdings in MiMedx Group by 45.2% in the 1st 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 during the last quarter. 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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