MiMedx Group’s (MDXG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of MiMedx Group (NASDAQ:MDXG) in a research note released on Wednesday, Benzinga reports. HC Wainwright currently has a $11.00 target price 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.

Several other equities research analysts have also recently issued reports on the company. Lake Street Capital began coverage on MiMedx Group in a report on Thursday, March 7th. They set a buy rating and a $12.00 price objective on the stock. Mizuho lifted their price target on MiMedx Group from $13.00 to $14.00 and gave the company a buy rating in a report on Friday, March 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $12.25.

MiMedx Group Trading Down 1.7 %

MiMedx Group stock opened at $7.37 on Wednesday. The stock has a 50-day moving average price of $7.36 and a 200 day moving average price of $7.56. MiMedx Group has a 52 week low of $5.13 and a 52 week high of $9.27. The stock has a market cap of $1.09 billion, a PE ratio of 16.75 and a beta of 1.44. The company has a current ratio of 3.29, a quick ratio of 3.11 and a debt-to-equity ratio of 0.12.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The firm had revenue of $86.83 million for the quarter, compared to analysts’ expectations of $85.58 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. Equities research analysts predict that MiMedx Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity at MiMedx Group

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

Institutional Trading of MiMedx Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Optimist Retirement Group LLC acquired a new position in shares of MiMedx Group in the 4th quarter valued at about $177,000. Cannell Capital LLC boosted its stake in MiMedx Group by 9.1% in the fourth quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock valued at $21,758,000 after acquiring an additional 207,207 shares during the period. Campbell & CO Investment Adviser LLC grew its holdings in shares of MiMedx Group by 26.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 261,604 shares of the company’s stock valued at $2,294,000 after purchasing an additional 55,435 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of MiMedx Group by 69.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock worth $3,928,000 after purchasing an additional 183,141 shares during the period. Finally, Jump Financial LLC lifted its holdings in shares of MiMedx Group by 8.7% in the 4th quarter. Jump Financial LLC now owns 97,260 shares of the company’s stock worth $853,000 after purchasing an additional 7,753 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.