MiMedx Group Inc. (MDXG) Given Consensus Recommendation of “Buy” by Brokerages
MiMedx Group Inc. (NASDAQ:MDXG) has earned a consensus recommendation of “Buy” from the eight analysts that are covering the firm. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $11.40.
Several analysts have weighed in on the company. Aegis assumed coverage on MiMedx Group in a report on Monday, November 7th. They set a “buy” rating and a $12.00 price objective for the company. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of MiMedx Group in a report on Wednesday, August 31st.
MiMedx Group (NASDAQ:MDXG) traded down 2.3580% during mid-day trading on Wednesday, hitting $9.5201. 174,964 shares of the company traded hands. The company’s 50-day moving average price is $8.93 and its 200 day moving average price is $8.14. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 52.5972 and a beta of 0.97. MiMedx Group has a one year low of $6.64 and a one year high of $10.02.
MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $64.40 million for the quarter, compared to the consensus estimate of $63.18 million. MiMedx Group had a net margin of 8.75% and a return on equity of 18.18%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. On average, analysts anticipate that MiMedx Group will post $0.22 earnings per share for the current fiscal year.
In other news, insider William Charles Taylor sold 20,400 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $7.55, for a total value of $154,020.00. Following the completion of the sale, the insider now directly owns 566,566 shares of the company’s stock, valued at approximately $4,277,573.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.30% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Group LTD boosted its stake in MiMedx Group by 8.3% in the first quarter. BlackRock Group LTD now owns 113,212 shares of the company’s stock worth $990,000 after buying an additional 8,682 shares during the last quarter. Springbok Capital Management LLC acquired a new stake in MiMedx Group during the first quarter worth about $109,000. BNP Paribas Arbitrage SA boosted its stake in MiMedx Group by 118.0% in the second quarter. BNP Paribas Arbitrage SA now owns 31,233 shares of the company’s stock worth $249,000 after buying an additional 16,906 shares during the last quarter. Patten & Patten Inc. TN boosted its stake in MiMedx Group by 15.1% in the second quarter. Patten & Patten Inc. TN now owns 29,570 shares of the company’s stock worth $236,000 after buying an additional 3,870 shares during the last quarter. Finally, Merriman Wealth Management LLC acquired a new stake in MiMedx Group during the second quarter worth about $4,969,000. 51.03% of the stock is owned by institutional investors and hedge funds.
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About MiMedx Group
MiMedx Group, Inc (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories.
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