MiMedx Group (MDXG) Lowered to Sell at BidaskClub
BidaskClub lowered shares of MiMedx Group (NASDAQ:MDXG) from a hold rating to a sell rating in a report published on Friday morning.
Other analysts also recently issued research reports about the company. Piper Jaffray Companies reiterated a buy rating and set a $18.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Zacks Investment Research cut MiMedx Group from a hold rating to a sell rating in a report on Wednesday, October 4th. Needham & Company LLC reissued a buy rating and set a $21.00 price objective on shares of MiMedx Group in a report on Friday, December 1st. Finally, Lake Street Capital set a $18.00 price objective on MiMedx Group and gave the company a buy rating in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $17.00.
Shares of MiMedx Group (NASDAQ:MDXG) traded up $0.23 on Friday, hitting $13.52. The stock had a trading volume of 2,110,600 shares, compared to its average volume of 1,393,920. The company has a market cap of $1,500.00, a P/E ratio of 45.07, a PEG ratio of 1.73 and a beta of 0.88. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $17.47.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. The firm had revenue of $84.60 million during the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. sell-side analysts forecast that MiMedx Group will post 0.23 earnings per share for the current fiscal year.
MiMedx Group declared that its Board of Directors has authorized a share buyback plan on Monday, October 9th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of MiMedx Group by 0.7% during the 2nd quarter. BlackRock Inc. now owns 12,187,736 shares of the medical equipment provider’s stock valued at $182,451,000 after buying an additional 82,382 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of MiMedx Group by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,661,111 shares of the medical equipment provider’s stock valued at $84,746,000 after buying an additional 566,114 shares in the last quarter. State Street Corp raised its holdings in shares of MiMedx Group by 21.9% during the 2nd quarter. State Street Corp now owns 3,960,317 shares of the medical equipment provider’s stock valued at $59,281,000 after buying an additional 710,515 shares in the last quarter. Atlantic Trust Group LLC increased its stake in MiMedx Group by 2.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,490,411 shares of the medical equipment provider’s stock worth $17,706,000 after purchasing an additional 37,937 shares during the period. Finally, Northern Trust Corp increased its stake in MiMedx Group by 2.2% in the 2nd quarter. Northern Trust Corp now owns 1,381,250 shares of the medical equipment provider’s stock worth $20,677,000 after purchasing an additional 29,265 shares during the period. 69.21% of the stock is currently owned by institutional investors.
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MiMedx Group Company Profile
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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