MiMedx Group (NASDAQ:MDXG) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of MiMedx Group (NASDAQ:MDXG) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $11.00 price objective 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 research analysts also recently commented on the company. Mizuho raised their target price on MiMedx Group from $13.00 to $14.00 and gave the stock a buy rating in a research note on Friday, March 1st. Lake Street Capital assumed coverage on shares of MiMedx Group in a research note on Thursday, March 7th. They set a buy rating and a $12.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $12.25.

MiMedx Group Stock Performance

NASDAQ MDXG opened at $7.37 on Wednesday. The company’s 50 day moving average is $7.35 and its 200-day moving average is $7.57. The firm has a market cap of $1.09 billion, a P/E ratio of 16.75 and a beta of 1.44. MiMedx Group has a 12-month low of $5.13 and a 12-month high of $9.27. The company has a quick ratio of 3.11, a current ratio of 3.29 and a debt-to-equity ratio of 0.12.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.04). MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. The company had revenue of $86.83 million for the quarter, compared to analysts’ expectations of $85.58 million. Sell-side analysts predict that MiMedx Group will post 0.34 earnings per share for the current year.

Insider Buying and Selling at MiMedx Group

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

Institutional Trading of MiMedx Group

Hedge funds have recently bought and sold shares of the company. AJOVista LLC bought a new position in MiMedx Group during the fourth quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale bought a new position in shares of MiMedx Group during the 3rd quarter valued at $38,000. Robeco Institutional Asset Management B.V. purchased a new position in MiMedx Group in the 3rd quarter worth $74,000. M&T Bank Corp bought a new stake in MiMedx Group in the third quarter worth $75,000. Finally, E Fund Management Co. Ltd. purchased a new stake in MiMedx Group during the third quarter valued at about $84,000. Institutional investors own 79.15% of the company’s stock.

About MiMedx Group

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.