MiMedx Group Inc (MDXG) Expected to Announce Earnings of $0.10 Per Share

Wall Street brokerages expect MiMedx Group Inc (NASDAQ:MDXG) to announce earnings of $0.10 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for MiMedx Group’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.11. MiMedx Group reported earnings per share of $0.07 during the same quarter last year, which would indicate a positive year-over-year growth rate of 42.9%. The company is expected to issue its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that MiMedx Group will report full-year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.31 to $0.32. For the next financial year, analysts forecast that the firm will report earnings of $0.46 per share, with EPS estimates ranging from $0.44 to $0.47. Zacks’ EPS averages are a mean average based on a survey of analysts that follow MiMedx Group.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s quarterly revenue was up 31.4% compared to the same quarter last year.

MDXG has been the topic of several research analyst reports. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 target price on shares of MiMedx Group in a research report on Friday, December 1st. Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of MiMedx Group in a research report on Friday, December 1st. Lake Street Capital set a $18.00 target price on shares of MiMedx Group and gave the stock a “buy” rating in a research report on Thursday, December 14th. BidaskClub raised shares of MiMedx Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, Zacks Investment Research downgraded shares of MiMedx Group from a “hold” rating to a “sell” rating in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.00.

Shares of MiMedx Group (NASDAQ MDXG) traded down $0.08 during trading on Monday, hitting $13.86. 1,689,100 shares of the stock were exchanged, compared to its average volume of 1,980,900. The stock has a market cap of $1,540.00, a P/E ratio of 46.20, a P/E/G ratio of 1.80 and a beta of 0.88. MiMedx Group has a 52-week low of $7.64 and a 52-week high of $17.47.

MiMedx Group announced that its board has authorized a stock repurchase program on Monday, October 9th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in MiMedx Group by 0.7% during the 2nd quarter. BlackRock Inc. now owns 12,187,736 shares of the medical equipment provider’s stock worth $182,451,000 after purchasing an additional 82,382 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of MiMedx Group by 11.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,661,111 shares of the medical equipment provider’s stock valued at $84,746,000 after acquiring an additional 566,114 shares during the last quarter. State Street Corp boosted its holdings in shares of MiMedx Group by 21.9% in the 2nd quarter. State Street Corp now owns 3,960,317 shares of the medical equipment provider’s stock valued at $59,281,000 after acquiring an additional 710,515 shares during the last quarter. Atlantic Trust Group LLC boosted its holdings in shares of MiMedx Group by 2.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,490,411 shares of the medical equipment provider’s stock valued at $17,706,000 after acquiring an additional 37,937 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of MiMedx Group by 2.2% in the 2nd quarter. Northern Trust Corp now owns 1,381,250 shares of the medical equipment provider’s stock valued at $20,677,000 after acquiring an additional 29,265 shares during the last quarter. 69.22% of the stock is currently owned by institutional investors.

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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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