MiMedx Group (NASDAQ:MDXG) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of MiMedx Group (NASDAQ:MDXG) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright also issued estimates for MiMedx Group’s Q2 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.10 EPS, Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.37 EPS and FY2025 earnings at $0.50 EPS.

MDXG has been the topic of several other reports. Mizuho boosted 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. Lake Street Capital started coverage on MiMedx Group in a research report on Thursday, March 7th. They set a buy rating and a $12.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $12.25.

MiMedx Group Stock Down 1.7 %

MDXG stock opened at $7.37 on Wednesday. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 16.75 and a beta of 1.44. MiMedx Group has a twelve month low of $5.13 and a twelve month high of $9.27. The business has a 50 day moving average price of $7.35 and a two-hundred day moving average price of $7.57. The company has a quick ratio of 3.11, a current ratio of 3.29 and a debt-to-equity ratio of 0.12.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). The firm had revenue of $86.83 million during the quarter, compared to the consensus estimate of $85.58 million. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. Analysts anticipate that MiMedx Group will post 0.34 EPS for the current fiscal year.

Insider Transactions at MiMedx Group

In related news, CAO William Frank Iv Hulse sold 20,381 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the transaction, the chief accounting officer now owns 479,959 shares in the company, valued at approximately $3,815,674.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO William Frank Iv Hulse sold 20,381 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total value of $162,028.95. Following the completion of the sale, the chief accounting officer now directly owns 479,959 shares in the company, valued at approximately $3,815,674.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ricci S. Whitlow sold 15,271 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.01, for a total value of $122,320.71. Following the transaction, the chief operating officer now owns 401,050 shares in the company, valued at approximately $3,212,410.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,145 shares of company stock worth $409,378. 19.90% of the stock is owned by insiders.

Institutional Trading of MiMedx Group

Several hedge funds and other institutional investors have recently bought and sold shares of MDXG. AJOVista LLC acquired a new position in shares of MiMedx Group during the 4th quarter worth approximately $25,000. DekaBank Deutsche Girozentrale bought a new stake in shares of MiMedx Group in the third quarter valued at approximately $38,000. Robeco Institutional Asset Management B.V. acquired a new stake in MiMedx Group during the third quarter worth approximately $74,000. M&T Bank Corp bought a new position in MiMedx Group during the 3rd quarter worth $75,000. Finally, E Fund Management Co. Ltd. acquired a new position in MiMedx Group in the 3rd quarter valued at $84,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

About MiMedx Group

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.