MiMedx Group (NASDAQ:MDXG) Stock Rating Reaffirmed by Piper Jaffray Companies

Piper Jaffray Companies reiterated their buy rating on shares of MiMedx Group (NASDAQ:MDXG) in a report issued on Friday, November 24th. The brokerage currently has a $18.00 target price on the medical equipment provider’s stock.

Other analysts have also recently issued reports about the company. Lake Street Capital raised their target price on MiMedx Group from $16.00 to $18.00 and gave the company a buy rating in a research report on Friday, July 28th. BidaskClub upgraded MiMedx Group from a hold rating to a buy rating in a research report on Thursday, August 10th. Needham & Company LLC began coverage on MiMedx Group in a research report on Thursday, August 3rd. They set a buy rating on the stock. Finally, Zacks Investment Research cut MiMedx Group from a hold rating to a sell rating in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $15.40.

MiMedx Group (NASDAQ:MDXG) traded down $0.08 during trading hours on Friday, reaching $11.52. The company’s stock had a trading volume of 1,336,800 shares, compared to its average volume of 1,723,342. MiMedx Group has a 52 week low of $7.64 and a 52 week high of $17.47. The company has a market cap of $1,288.01, a P/E ratio of 55.24, a PEG ratio of 2.76 and a beta of 0.87.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $84.60 million for the quarter, compared to the consensus estimate of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The business’s revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. equities research analysts expect that MiMedx Group will post 0.24 EPS for the current year.

MiMedx Group announced that its Board of Directors has approved a stock buyback program on Monday, October 9th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the medical equipment provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently modified their holdings of the company. Lourd Capital LLC boosted its position in MiMedx Group by 0.4% during the second quarter. Lourd Capital LLC now owns 31,120 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 120 shares during the last quarter. Alps Advisors Inc. boosted its position in MiMedx Group by 0.3% during the second quarter. Alps Advisors Inc. now owns 56,871 shares of the medical equipment provider’s stock valued at $851,000 after purchasing an additional 147 shares during the last quarter. Pinebridge Investments L.P. boosted its position in MiMedx Group by 2.9% during the second quarter. Pinebridge Investments L.P. now owns 13,438 shares of the medical equipment provider’s stock valued at $201,000 after purchasing an additional 377 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position 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 valued at $129,000 after purchasing an additional 600 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in MiMedx Group by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 41,500 shares of the medical equipment provider’s stock valued at $621,000 after purchasing an additional 700 shares during the last quarter. 69.36% of the stock is owned by institutional investors and hedge funds.

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MiMedx Group Company Profile

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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