Needham & Company LLC reissued their buy rating on shares of MiMedx Group, Inc (NASDAQ:MDXG) in a report issued on Tuesday. Needham & Company LLC currently has a $21.00 price target on the medical equipment provider’s stock.

A number of other analysts also recently issued reports on MDXG. BidaskClub raised MiMedx Group from a hold rating to a buy rating in a research report on Thursday, August 10th. Piper Jaffray Companies reissued a buy rating and issued a $18.00 target price on shares of MiMedx Group in a research report on Sunday, August 20th. Lake Street Capital raised their target price 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, Zacks Investment Research downgraded MiMedx Group from a hold rating to a sell rating in a research report on Wednesday, October 4th. Three equities research 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 company currently has a consensus rating of Hold and a consensus target price of $15.40.

Shares of MiMedx Group (NASDAQ MDXG) opened at $11.82 on Tuesday. The company has a market capitalization of $1,260.00, a P/E ratio of 56.24, a P/E/G ratio of 2.81 and a beta of 0.91. MiMedx Group has a 52-week low of $7.64 and a 52-week high of $17.47.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $84.60 million. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. analysts predict that MiMedx Group will post 0.24 EPS for the current fiscal year.

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MiMedx Group declared that its board has approved a share buyback program on Wednesday, July 26th that authorizes the company to repurchase $14.00 million in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of the company. Smith & Howard Wealth Management LLC boosted its holdings in shares of MiMedx Group by 70.5% in the third quarter. Smith & Howard Wealth Management LLC now owns 36,540 shares of the medical equipment provider’s stock worth $434,000 after acquiring an additional 15,110 shares during the period. Marco Investment Management LLC bought a new position in shares of MiMedx Group in the third quarter worth $249,000. PVG Asset Management Corp bought a new position in shares of MiMedx Group in the third quarter worth $127,000. Argent Capital Management LLC boosted its holdings in shares of MiMedx Group by 37.2% in the third quarter. Argent Capital Management LLC now owns 254,810 shares of the medical equipment provider’s stock worth $3,027,000 after acquiring an additional 69,085 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of MiMedx Group by 25.0% in the third quarter. California Public Employees Retirement System now owns 81,347 shares of the medical equipment provider’s stock worth $966,000 after acquiring an additional 16,247 shares during the period. 62.65% of the stock is owned by hedge funds and other institutional investors.

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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