Positive News Coverage Somewhat Unlikely to Affect MiMedx Group (MDXG) Share Price
Press coverage about MiMedx Group (NASDAQ:MDXG) has been trending positive this week, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MiMedx Group earned a daily sentiment score of 0.35 on Accern’s scale. Accern also gave headlines about the medical equipment provider an impact score of 47.6054157238089 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- MiMedx Group, Inc. (NasdaqCM:MDXG) and Insight Enterprises, Inc. (NasdaqGS:NSIT): Technical Valuation Breakdown – Evergreen Caller (evergreencaller.com)
- MiMedx Group (MDXG) Announces Filing with FDA to Initiate Investigational New Drug Achilles Tendonitis Phase 3 … – StreetInsider.com (streetinsider.com)
- MiMedx Group (MDXG) Announces Filing with FDA to Initiate Investigational New Drug Achilles Tendonitis Phase 3 Clinical Trial (streetinsider.com)
- MiMedx Files With The FDA To Initiate Its Investigational New Drug Achilles Tendonitis Phase 3 Clinical Trial (finance.yahoo.com)
- $0.08 EPS Expected for MiMedx Group, Inc (NASDAQ:MDXG) This Quarter (americanbankingnews.com)
Several equities analysts recently commented on the stock. First Analysis downgraded shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a research note on Tuesday, May 23rd. BidaskClub downgraded shares of MiMedx Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of MiMedx Group in a research note on Wednesday, April 26th. Finally, Lake Street Capital increased their price objective on shares of MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.33.
MiMedx Group (NASDAQ MDXG) opened at 14.68 on Monday. MiMedx Group has a 12 month low of $6.94 and a 12 month high of $16.20. The firm has a market capitalization of $1.57 billion, a PE ratio of 77.26 and a beta of 1.03. The firm has a 50-day moving average of $15.00 and a 200 day moving average of $11.67.
MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.07. The firm had revenue of $76.40 million during the quarter, compared to analyst estimates of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Equities research analysts forecast that MiMedx Group will post $0.32 earnings per share for the current year.
MiMedx Group announced that its Board of Directors has authorized a share buyback program on Wednesday, July 26th that allows the company to repurchase $14.00 million in 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 an indication that the company’s board believes its stock is undervalued.
In other news, insider William Charles Taylor sold 26,571 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $13.74, for a total value of $365,085.54. Following the completion of the sale, the insider now directly owns 533,612 shares in the company, valued at approximately $7,331,828.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.40% of the company’s stock.
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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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