MiMedx Group, Inc (NASDAQ:MDXG) was down 0% during trading on Thursday . The stock traded as low as $13.27 and last traded at $13.41. Approximately 1,609,381 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 1,508,100 shares. The stock had previously closed at $13.40.

Several equities research analysts have recently commented on MDXG shares. BidaskClub downgraded MiMedx Group from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Needham & Company LLC increased their price objective on MiMedx Group from $20.00 to $21.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 5th. First Analysis downgraded MiMedx Group from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a report on Tuesday, May 23rd. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price objective on shares of MiMedx Group in a report on Sunday, August 20th. Finally, Lake Street Capital increased their price objective on MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.83.

The firm’s 50 day moving average price is $15.47 and its 200-day moving average price is $13.30. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 71.37 and a beta of 0.98.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, July 26th. The medical equipment provider reported $0.07 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. MiMedx Group had a return on equity of 15.95% and a net margin of 7.48%. The business had revenue of $76.40 million for the quarter, compared to analysts’ expectations of $74.22 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was up 33.3% on a year-over-year basis. On average, equities analysts expect that MiMedx Group, Inc will post $0.31 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lourd Capital LLC lifted its position in shares of MiMedx Group by 0.4% during the 2nd quarter. Lourd Capital LLC now owns 31,120 shares of the medical equipment provider’s stock valued at $466,000 after buying an additional 120 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of MiMedx Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 56,871 shares of the medical equipment provider’s stock valued at $851,000 after buying an additional 147 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of MiMedx Group by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 40,800 shares of the medical equipment provider’s stock valued at $389,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System lifted its position in shares of MiMedx Group by 0.6% during the 1st quarter. Arizona State Retirement System now owns 52,216 shares of the medical equipment provider’s stock valued at $498,000 after buying an additional 300 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its position in shares of MiMedx Group by 2.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock valued at $201,000 after buying an additional 377 shares during the last quarter. 60.35% of the stock is currently owned by hedge funds and other 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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