MiMedx Group (NASDAQ:MDXG) Downgraded by BidaskClub to Sell

MiMedx Group (NASDAQ:MDXG) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday, January 5th.

A number of other analysts have also recently commented on MDXG. Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of MiMedx Group in a report on Friday, December 1st. Piper Jaffray Companies restated a “buy” rating and set a $18.00 target price on shares of MiMedx Group in a 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 lowered 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 assigned a hold rating and three have issued a buy rating to the stock. MiMedx Group has a consensus rating of “Hold” and a consensus price target of $17.00.

MiMedx Group (NASDAQ MDXG) opened at $14.21 on Friday. MiMedx Group has a one year low of $7.64 and a one year high of $17.47. The company has a market cap of $1,584.47, a price-to-earnings ratio of 45.84, a P/E/G ratio of 1.85 and a beta of 0.88.

MiMedx Group (NASDAQ:MDXG) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $84.60 million. MiMedx Group had a net margin of 11.64% and a return on equity of 17.49%. During the same quarter in the previous year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. analysts predict that MiMedx Group will post 0.23 EPS for the current fiscal year.

MiMedx Group declared that its Board of Directors has initiated a share buyback plan on Monday, October 9th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the medical equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Large investors have recently made changes to their positions in the stock. Rowland & Co. Investment Counsel ADV bought a new position in MiMedx Group in the 2nd quarter worth approximately $3,040,000. Piedmont Investment Advisors LLC bought a new position in MiMedx Group in the 2nd quarter worth approximately $330,000. SG Americas Securities LLC bought a new position in MiMedx Group in the 2nd quarter worth approximately $504,000. Argent Capital Management LLC boosted its stake in MiMedx Group by 37.2% in the 3rd quarter. Argent Capital Management LLC now owns 254,810 shares of the medical equipment provider’s stock worth $3,027,000 after purchasing an additional 69,085 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in MiMedx Group by 5.6% in the 3rd quarter. Wells Fargo & Company MN now owns 715,280 shares of the medical equipment provider’s stock worth $8,498,000 after purchasing an additional 37,743 shares during the period. Institutional investors own 69.22% of the company’s stock.

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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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