MiMedx Group, Inc (NASDAQ:MDXG) posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08, MarketWatch Earnings reports. The company had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. MiMedx Group’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. MiMedx Group updated its FY17 guidance to $0.31-0.32 EPS.
MiMedx Group (NASDAQ:MDXG) traded down $0.34 on Friday, reaching $12.36. The company had a trading volume of 1,782,400 shares, compared to its average volume of 1,718,501. The company has a market cap of $1,410.14, a P/E ratio of 60.48, a PEG ratio of 3.02 and a beta of 0.91. MiMedx Group has a twelve month low of $7.64 and a twelve month high of $17.47.
Several research analysts recently commented on MDXG shares. Needham & Company LLC increased their price objective on MiMedx Group from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 5th. Zacks Investment Research cut MiMedx Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. BidaskClub cut MiMedx Group from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. Lake Street Capital lifted their price objective on MiMedx Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $18.00 price objective on shares of MiMedx Group in a report on Sunday, August 20th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. MiMedx Group currently has a consensus rating of “Hold” and a consensus target price of $15.40.
MiMedx Group announced that its board has initiated a stock buyback plan on Wednesday, July 26th that permits the company to repurchase $14.00 million in shares. This repurchase authorization permits the medical equipment provider to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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