FY2024 EPS Estimates for MiMedx Group, Inc. (NASDAQ:MDXG) Lifted by Northland Capmk

MiMedx Group, Inc. (NASDAQ:MDXG) – Research analysts at Northland Capmk upped their FY2024 earnings per share estimates for shares of MiMedx Group in a research note issued to investors on Wednesday, May 1st. Northland Capmk analyst C. Byrnes now forecasts that the company will post earnings of $0.29 per share for the year, up from their prior estimate of $0.28. The consensus estimate for MiMedx Group’s current full-year earnings is $0.32 per share.

MDXG has been the topic of a number of other research reports. Lake Street Capital initiated coverage on MiMedx Group in a report on Thursday, March 7th. They set a “buy” rating and a $12.00 price target on the stock. StockNews.com downgraded MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday. Mizuho upped their price target on MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of MiMedx Group in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $12.25.

MiMedx Group Trading Down 1.7 %

NASDAQ MDXG opened at $7.37 on Thursday. MiMedx Group has a 1-year low of $5.13 and a 1-year high of $9.27. The company has a current ratio of 3.29, a quick ratio of 3.11 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $7.36 and a 200-day moving average of $7.56. The firm has a market cap of $1.09 billion, a PE ratio of 16.75 and a beta of 1.44.

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 analysts’ consensus estimates of $0.08 by ($0.04). MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. The company had revenue of $86.83 million during the quarter, compared to the consensus estimate of $85.58 million.

Hedge Funds Weigh In On MiMedx Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cannell Capital LLC lifted its position in MiMedx Group by 106.7% during the third quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock valued at $16,576,000 after purchasing an additional 1,173,506 shares in the last quarter. Russell Investments Group Ltd. lifted its position in MiMedx Group by 1,577.5% during the fourth quarter. Russell Investments Group Ltd. now owns 525,059 shares of the company’s stock valued at $4,605,000 after purchasing an additional 493,759 shares in the last quarter. Calamos Advisors LLC purchased a new position in MiMedx Group during the fourth quarter valued at $3,118,000. Vanguard Group Inc. lifted its position in MiMedx Group by 4.1% during the third quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock valued at $46,927,000 after purchasing an additional 250,812 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in MiMedx Group by 69.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock valued at $3,928,000 after purchasing an additional 183,141 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Insider Activity at MiMedx Group

In related 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 value of $122,320.71. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 transaction of $122,320.71. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $8.07, for a total value of $125,028.51. Following 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. In the last three months, insiders have sold 51,145 shares of company stock valued at $409,378. 19.90% of the stock is owned by corporate insiders.

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.