MiMedx Group (MDXG) Upgraded by BidaskClub to “Hold”

MiMedx Group (NASDAQ:MDXG) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other equities research analysts also recently issued reports on MDXG. Needham & Company LLC reissued a “buy” rating and set a $21.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Piper Jaffray Companies reissued a “buy” rating and set a $18.00 price target on shares of MiMedx Group in a research report on Friday, November 24th. Lake Street Capital set a $18.00 price target on MiMedx Group and gave the stock a “buy” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. MiMedx Group presently has a consensus rating of “Hold” and an average target price of $17.00.

MiMedx Group (NASDAQ:MDXG) traded down $0.08 during trading on Thursday, hitting $13.86. The stock had a trading volume of 1,689,100 shares, compared to its average volume of 1,980,900. MiMedx Group has a 52 week low of $7.64 and a 52 week high of $17.47. The firm has a market capitalization of $1,540.00, a P/E ratio of 46.20, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 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 company had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. equities analysts anticipate that MiMedx Group will post 0.23 EPS for the current fiscal year.

MiMedx Group announced that its Board of Directors has initiated a share buyback 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Large investors have recently modified their holdings of the stock. Acrospire Investment Management LLC grew its position in 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 worth $101,000 after buying an additional 5,900 shares in the last quarter. Quantbot Technologies LP acquired a new stake in MiMedx Group during the second quarter worth approximately $109,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in MiMedx Group during the third quarter worth $119,000. PVG Asset Management Corp bought a new stake in MiMedx Group during the third quarter worth $127,000. Finally, Ameritas Investment Partners Inc. lifted 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 last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.

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About MiMedx Group

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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