Northland Capmk Equities Analysts Raise Earnings Estimates for MiMedx Group, Inc. (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Northland Capmk upped their FY2024 earnings estimates for MiMedx Group in a report released on Wednesday, May 1st. Northland Capmk analyst C. Byrnes now anticipates that the company will post earnings per share of $0.29 for the year, up from their prior estimate of $0.28. The consensus estimate for MiMedx Group’s current full-year earnings is $0.33 per share.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). MiMedx Group had a net margin of 18.63% and a return on equity of 64.61%. The firm had revenue of $86.83 million during the quarter, compared to analyst estimates of $85.58 million.

A number of other brokerages have also commented on MDXG. Lake Street Capital initiated coverage on MiMedx Group in a research report on Thursday, March 7th. They issued a “buy” rating and a $12.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of MiMedx Group in a report on Wednesday. Finally, Mizuho increased their price objective on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MiMedx Group has an average rating of “Buy” and an average target price of $12.25.

MiMedx Group Stock Up 18.7 %

Shares of MDXG stock opened at $7.31 on Thursday. MiMedx Group has a fifty-two week low of $3.79 and a fifty-two week high of $9.27. The firm has a market capitalization of $1.08 billion, a PE ratio of 16.61 and a beta of 1.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.11 and a current ratio of 3.57. The stock’s 50-day simple moving average is $7.39 and its 200-day simple moving average is $7.56.

Insider Buying and Selling at MiMedx Group

In other news, COO Ricci S. Whitlow sold 15,271 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total transaction of $122,320.71. Following the completion of the transaction, the chief operating officer now directly owns 401,050 shares of the company’s stock, valued at approximately $3,212,410.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO Ricci S. Whitlow sold 15,271 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total transaction of $122,320.71. Following the completion of the sale, the chief operating officer now owns 401,050 shares of the company’s stock, valued at $3,212,410.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ricci S. Whitlow sold 15,493 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $8.07, for a total transaction of $125,028.51. Following the completion of the transaction, the chief operating officer now directly owns 416,321 shares in the company, valued at $3,359,710.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,145 shares of company stock valued at $409,378. Corporate insiders own 19.90% of the company’s stock.

Institutional Trading of MiMedx Group

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in MiMedx Group by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock worth $46,927,000 after purchasing an additional 250,812 shares during the last quarter. Cannell Capital LLC boosted its position in MiMedx Group by 9.1% during the fourth quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock worth $21,758,000 after acquiring an additional 207,207 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in MiMedx Group by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock valued at $9,947,000 after acquiring an additional 57,704 shares in the last quarter. EAM Investors LLC grew its stake in MiMedx Group by 20.9% during the 3rd quarter. EAM Investors LLC now owns 664,213 shares of the company’s stock valued at $4,842,000 after acquiring an additional 114,880 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in MiMedx Group by 1,577.5% in the 4th quarter. Russell Investments Group Ltd. now owns 525,059 shares of the company’s stock valued at $4,605,000 after acquiring an additional 493,759 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

MiMedx Group Company Profile

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue's inherent biological properties and regulatory proteins.