MiMedx Group (MDXG) Given a $18.00 Price Target by Lake Street Capital Analysts
MiMedx Group (NASDAQ:MDXG) has been assigned a $18.00 price target by analysts at Lake Street Capital in a report released on Thursday. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Lake Street Capital’s price target would indicate a potential upside of 44.00% from the stock’s previous close.
Several other research firms have also recently weighed in on MDXG. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a research report on Sunday, August 20th. Needham & Company LLC increased their price objective 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. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a research report on Friday, December 8th. Finally, BidaskClub lowered MiMedx Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $17.00.
Shares of MiMedx Group (NASDAQ MDXG) opened at $12.50 on Thursday. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $17.47. The firm has a market capitalization of $1,347.96, a P/E ratio of 57.81, a PEG ratio of 3.08 and a beta of 0.87.
MiMedx Group declared that its Board of Directors has approved a share repurchase plan on Monday, October 9th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the medical equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its stake in shares of MiMedx Group by 678.9% in the second quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 5,900 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of MiMedx Group in the second quarter valued at $109,000. Ameritas Investment Partners Inc. raised its stake in shares of MiMedx Group by 7.5% in the second 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 in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of MiMedx Group in the third quarter valued at $119,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of MiMedx Group in the second quarter valued at $157,000. Institutional investors and hedge funds own 69.36% of the company’s stock.
WARNING: “MiMedx Group (MDXG) Given a $18.00 Price Target by Lake Street Capital Analysts” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.watchlistnews.com/mimedx-group-mdxg-given-a-18-00-price-target-by-lake-street-capital-analysts/1767462.html.
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.
Receive News & Ratings for MiMedx Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiMedx Group and related companies with MarketBeat.com's FREE daily email newsletter.