MiMedx Group Inc (MDXG) Receives Consensus Rating of “Hold” from Brokerages
MiMedx Group Inc (NASDAQ:MDXG) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $17.00.
Several research firms recently issued reports on MDXG. Lake Street Capital set a $18.00 target price on shares of MiMedx Group and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Piper Jaffray Companies restated a “buy” rating and issued a $18.00 target price on shares of MiMedx Group in a report on Friday, December 1st. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of MiMedx Group in a report on Friday, December 1st. Finally, BidaskClub lowered shares of MiMedx Group from a “buy” rating to a “hold” rating in a report on Saturday, August 26th.
MiMedx Group (MDXG) traded down $0.26 during mid-day trading on Thursday, hitting $11.99. The stock had a trading volume of 1,833,900 shares, compared to its average volume of 1,715,361. The firm has a market cap of $1,330.00, a P/E ratio of 58.33, a P/E/G ratio of 3.11 and a beta of 0.87. MiMedx Group has a one year low of $7.64 and a one year high of $17.47.
MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.08. The company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 EPS. equities analysts forecast that MiMedx Group will post 0.23 EPS for the current fiscal year.
MiMedx Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, October 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in MDXG. Alps Advisors Inc. increased its holdings in shares of MiMedx Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 56,871 shares of the medical equipment provider’s stock worth $851,000 after buying an additional 147 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in MiMedx Group by 2.9% in the second quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock worth $201,000 after buying an additional 377 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in MiMedx Group by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after buying an additional 600 shares during the last quarter. Amalgamated Bank raised its holdings in MiMedx Group by 5.9% in the second quarter. Amalgamated Bank now owns 14,292 shares of the medical equipment provider’s stock worth $214,000 after buying an additional 792 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in MiMedx Group by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 104,747 shares of the medical equipment provider’s stock worth $1,569,000 after buying an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 69.36% 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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