MiMedx Group, Inc. (NASDAQ:MDXG) Forecasted to Post Q2 2024 Earnings of $0.10 Per Share

MiMedx Group, Inc. (NASDAQ:MDXG) – Analysts at HC Wainwright raised their Q2 2024 earnings per share (EPS) estimates for shares of MiMedx Group in a research note issued to investors on Wednesday, May 1st. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings of $0.10 per share for the quarter, up from their prior forecast of $0.09. HC Wainwright has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for MiMedx Group’s current full-year earnings is $0.34 per share. HC Wainwright also issued estimates for MiMedx Group’s Q3 2024 earnings at $0.10 EPS, FY2024 earnings at $0.37 EPS and FY2025 earnings at $0.50 EPS.

A number of other equities analysts have also issued reports on MDXG. Lake Street Capital assumed coverage on MiMedx Group in a report on Thursday, March 7th. They issued a “buy” rating and a $12.00 price objective for the company. StockNews.com cut MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Mizuho lifted their price objective on shares of MiMedx Group from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.25.

MiMedx Group Price Performance

NASDAQ MDXG opened at $7.37 on Friday. The company has a 50-day moving average price of $7.35 and a two-hundred day moving average price of $7.57. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 16.75 and a beta of 1.44. The company has a current ratio of 3.29, a quick ratio of 3.11 and a debt-to-equity ratio of 0.12. MiMedx Group has a 52 week low of $5.13 and a 52 week high of $9.27.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly 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). The firm had revenue of $86.83 million for the quarter, compared to analyst estimates of $85.58 million. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%.

Insiders Place Their Bets

In other news, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total transaction of $162,028.95. Following the transaction, the chief accounting officer now directly owns 479,959 shares in the company, valued at approximately $3,815,674.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Ricci S. Whitlow sold 15,271 shares of MiMedx Group stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William Frank Iv Hulse sold 20,381 shares of the stock in a transaction that occurred 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 sale, 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 51,145 shares of company stock worth $409,378 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. AJOVista LLC bought a new stake in shares of MiMedx Group during the 4th quarter worth $25,000. DekaBank Deutsche Girozentrale acquired a new position in shares of MiMedx Group in 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 about $74,000. M&T Bank Corp purchased a new position in MiMedx Group in the 3rd quarter worth about $75,000. Finally, E Fund Management Co. Ltd. acquired a new stake in MiMedx Group during the 3rd quarter worth about $84,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

MiMedx Group Company Profile

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.