Analysts Set Expectations for MiMedx Group, Inc.’s FY2024 Earnings (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Investment analysts at Northland Capmk upped their FY2024 earnings per share estimates for shares of MiMedx Group in a research note issued to investors on Wednesday, May 1st. Northland Capmk analyst C. Byrnes now anticipates that the company will earn $0.29 per share for the year, up from their previous estimate of $0.28. The consensus estimate for MiMedx Group’s current full-year earnings is $0.33 per share.

MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). The company had revenue of $86.83 million during the quarter, compared to analysts’ expectations of $85.58 million. MiMedx Group had a return on equity of 64.61% and a net margin of 18.63%.

Several other research firms have also recently commented on MDXG. Lake Street Capital began coverage on MiMedx Group in a research note on Thursday, March 7th. They issued a “buy” rating and a $12.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of MiMedx Group in a research report on Wednesday. Finally, Mizuho raised their price target on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $12.25.

MiMedx Group Stock Up 18.7 %

Shares of NASDAQ:MDXG opened at $7.31 on Thursday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 16.61 and a beta of 1.44. The company has a 50 day moving average of $7.39 and a two-hundred day moving average of $7.56. MiMedx Group has a 52-week low of $3.79 and a 52-week high of $9.27. The company has a quick ratio of 3.11, a current ratio of 3.57 and a debt-to-equity ratio of 0.34.

Hedge Funds Weigh In On MiMedx Group

Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank grew its stake in MiMedx Group by 36.4% during the 3rd quarter. Swiss National Bank now owns 254,200 shares of the company’s stock worth $1,853,000 after buying an additional 67,900 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of MiMedx Group by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock worth $46,927,000 after acquiring an additional 250,812 shares during the period. Cannell Capital LLC increased its holdings in shares of MiMedx Group by 106.7% in the 3rd quarter. Cannell Capital LLC now owns 2,273,762 shares of the company’s stock worth $16,576,000 after acquiring an additional 1,173,506 shares during the period. Calamos Advisors LLC bought a new stake in MiMedx Group in the 4th quarter valued at about $3,118,000. Finally, Algert Global LLC acquired a new position in MiMedx Group during the 3rd quarter valued at about $570,000. 79.15% of the stock is owned by institutional investors.

Insider Activity at MiMedx Group

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 stock was sold at an average price of $8.01, for a total transaction of $122,320.71. Following the transaction, the chief operating officer now owns 401,050 shares of the company’s stock, valued at approximately $3,212,410.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other MiMedx Group news, COO Ricci S. Whitlow sold 15,271 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total transaction of $122,320.71. Following the sale, the chief operating officer now directly 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 the SEC website. Also, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction dated 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 transaction, 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. Insiders sold a total of 51,145 shares of company stock valued at $409,378 over the last three months. 19.90% of the stock is owned by insiders.

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.