BidaskClub Downgrades MiMedx Group (MDXG) to Sell

MiMedx Group (NASDAQ:MDXG) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Several other research firms have also commented on MDXG. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $18.00 price target on shares of MiMedx Group in a report on Friday, December 1st. Zacks Investment Research lowered shares of MiMedx Group from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Lake Street Capital set a $18.00 price target on shares of MiMedx Group and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price target on shares of MiMedx Group in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $17.00.

Shares of MiMedx Group (MDXG) traded up $0.17 on Friday, hitting $13.29. 1,245,897 shares of the stock were exchanged, compared to its average volume of 1,214,750. The stock has a market capitalization of $1,480.00, a price-to-earnings ratio of 44.30, a PEG ratio of 1.68 and a beta of 0.88. MiMedx Group has a 12-month low of $7.64 and a 12-month high of $17.47.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $84.60 million for the quarter, compared to analyst estimates of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. equities research analysts anticipate that MiMedx Group will post 0.23 earnings per share for the current fiscal year.

MiMedx Group announced that its board has approved a stock repurchase plan on Monday, October 9th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

A number of large investors have recently bought and sold shares of the business. Pinebridge Investments L.P. boosted its holdings in MiMedx Group by 2.9% in the second quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock valued at $201,000 after purchasing an additional 377 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in MiMedx Group by 7.5% in the second quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock valued at $129,000 after purchasing an additional 600 shares during the last quarter. Amalgamated Bank boosted its holdings in MiMedx Group by 5.9% in the second quarter. Amalgamated Bank now owns 14,292 shares of the medical equipment provider’s stock valued at $214,000 after purchasing an additional 792 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of MiMedx Group by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 104,747 shares of the medical equipment provider’s stock worth $1,569,000 after acquiring an additional 816 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of MiMedx Group by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 42,357 shares of the medical equipment provider’s stock worth $634,000 after acquiring an additional 982 shares during the period. 69.21% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/05/bidaskclub-downgrades-mimedx-group-mdxg-to-sell.html.

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.

Receive News & Ratings for MiMedx Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiMedx Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply