MiMedx Group (NASDAQ:MDXG) has been assigned a $18.00 target price by investment analysts at Lake Street Capital in a research note issued on Thursday. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Lake Street Capital’s price target suggests a potential upside of 50.13% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC raised their target price on MiMedx Group from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $18.00 price target on shares of MiMedx Group in a research note on Sunday, August 20th. BidaskClub lowered shares of MiMedx Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Shares of MiMedx Group (NASDAQ:MDXG) traded down $0.26 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. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $17.47. The stock has a market cap of $1,330.00, a price-to-earnings ratio of 58.33, a PEG ratio of 3.11 and a beta of 0.87.

MiMedx Group (NASDAQ:MDXG) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. During the same period in the prior year, the firm earned $0.06 EPS. The firm’s revenue was up 31.4% on a year-over-year basis. equities research analysts forecast that MiMedx Group will post 0.23 earnings per share for the current year.

MiMedx Group declared that its board has approved a stock buyback program on Monday, October 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the medical equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of MDXG. Acrospire Investment Management LLC lifted its stake in shares of MiMedx Group by 678.9% during the second quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock valued at $101,000 after buying an additional 5,900 shares during the period. Quantbot Technologies LP purchased a new position in MiMedx Group during the second quarter worth approximately $109,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in MiMedx Group during the third quarter worth approximately $119,000. PVG Asset Management Corp purchased a new position in MiMedx Group during the third quarter worth approximately $127,000. Finally, Ameritas Investment Partners Inc. raised its stake in MiMedx Group by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 600 shares during the period. 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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