MiMedx Group, Inc (MDXG) Lifted to Buy at BidaskClub
MiMedx Group, Inc (NASDAQ:MDXG) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Several other research firms also recently issued reports on MDXG. Needham & Company LLC started coverage on shares of MiMedx Group in a research note on Thursday, August 3rd. They set a “buy” rating for the company. Lake Street Capital raised their price target 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. Finally, First Analysis downgraded shares of MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price target for the company. in a research note on Tuesday, May 23rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. MiMedx Group presently has an average rating of “Hold” and a consensus target price of $13.33.
MiMedx Group (MDXG) traded down 3.41% during mid-day trading on Thursday, reaching $15.01. 129,043 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $15.02 and a 200-day moving average of $11.92. MiMedx Group has a 12 month low of $6.94 and a 12 month high of $16.20. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 79.00 and a beta of 1.03.
MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The firm had revenue of $76.40 million during the quarter, compared to the consensus estimate of $74.22 million. MiMedx Group had a net margin of 7.48% and a return on equity of 15.95%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. Analysts anticipate that MiMedx Group will post $0.31 earnings per share for the current year.
MiMedx Group announced that its board has authorized a stock buyback program on Wednesday, July 26th that permits the company to buyback $14.00 million in shares. This buyback authorization permits the medical equipment provider to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, insider William Charles Taylor sold 80,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $14.52, for a total transaction of $1,161,600.00. Following the completion of the sale, the insider now directly owns 547,424 shares in the company, valued at $7,948,596.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 12.40% of the company’s stock.
Several large investors have recently bought and sold shares of MDXG. UBS Asset Management Americas Inc. boosted its stake in MiMedx Group by 56.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 74,013 shares of the medical equipment provider’s stock valued at $656,000 after buying an additional 26,713 shares during the period. Teachers Advisors LLC boosted its stake in MiMedx Group by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 209,027 shares of the medical equipment provider’s stock valued at $1,852,000 after buying an additional 3,438 shares during the period. OppenheimerFunds Inc. boosted its stake in MiMedx Group by 45.2% in the first quarter. OppenheimerFunds Inc. now owns 22,860 shares of the medical equipment provider’s stock valued at $217,000 after buying an additional 7,112 shares during the period. Wells Fargo & Company MN boosted its stake in MiMedx Group by 9.5% in the first quarter. Wells Fargo & Company MN now owns 471,131 shares of the medical equipment provider’s stock valued at $4,491,000 after buying an additional 41,028 shares during the period. Finally, PEAK6 Investments L.P. purchased a new stake in MiMedx Group during the first quarter valued at $269,000. Institutional investors own 53.75% of the company’s stock.
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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