MiMedx Group (MDXG) Receiving Favorable News Coverage, Report Finds
Media headlines about MiMedx Group (NASDAQ:MDXG) have trended positive recently, Accern Sentiment Analysis reports. The research firm identifies negative and positive news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. MiMedx Group earned a daily sentiment score of 0.29 on Accern’s scale. Accern also gave media stories about the medical equipment provider an impact score of 47.3326244304075 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news articles that may have effected Accern Sentiment Analysis’s scoring:
- Aperio Group LLC Increases Stake in MiMedx Group, Inc (MDXG) (fishinghd.com)
- MiMedx Group (MDXG) Cleared by FDA to Proceed With Phase 3 Clinical Trial For Achilles Tendonitis (streetinsider.com)
- MiMedx Notified By FDA That It Can Proceed With Phase 3 Investigational New Drug Clinical Trial For Achilles Tendonitis (finance.yahoo.com)
- MiMedx Reports Further Developments in its Civil Litigation Against Former Employees (finance.yahoo.com)
- INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation on Behalf of MiMedx Group, Inc. Investors (MDXG) (finance.yahoo.com)
A number of analysts have recently weighed in on the company. Needham & Company LLC upped their price objective on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 5th. BidaskClub lowered MiMedx Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a research report on Sunday, August 20th. Lake Street Capital upped their price objective on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, First Analysis lowered MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a research report on Tuesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.83.
MiMedx Group (MDXG) traded up 0.70% during mid-day trading on Monday, hitting $14.34. The stock had a trading volume of 819,798 shares. MiMedx Group has a one year low of $7.64 and a one year high of $17.47. The company has a 50 day moving average price of $15.62 and a 200-day moving average price of $13.16. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 75.47 and a beta of 0.98.
MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The business had revenue of $76.40 million for the quarter, compared to the consensus estimate of $74.22 million. During the same period in the previous year, the firm earned $0.05 EPS. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. Equities analysts expect that MiMedx Group will post $0.31 earnings per share for the current fiscal year.
MiMedx Group announced that its board has approved a share repurchase program on Wednesday, July 26th that allows the company to repurchase $14.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider William Charles Taylor sold 80,000 shares of the business’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 value of $1,161,600.00. Following the sale, the insider now directly owns 547,424 shares in the company, valued at approximately $7,948,596.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.40% of the stock is owned by insiders.
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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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