Zacks Small Cap Comments on MiMedx Group, Inc.’s FY2023 Earnings (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXGGet Rating) – Research analysts at Zacks Small Cap lowered their FY2023 earnings per share (EPS) estimates for shares of MiMedx Group in a note issued to investors on Thursday, August 4th. Zacks Small Cap analyst J. Vandermosten now forecasts that the company will post earnings per share of $0.25 for the year, down from their prior forecast of $0.29. The consensus estimate for MiMedx Group’s current full-year earnings is ($0.21) per share. Zacks Small Cap also issued estimates for MiMedx Group’s FY2024 earnings at $0.38 EPS.

MiMedx Group Price Performance

Shares of NASDAQ MDXG opened at $3.94 on Friday. MiMedx Group has a fifty-two week low of $3.04 and a fifty-two week high of $8.69. The business has a 50 day moving average price of $3.58 and a two-hundred day moving average price of $4.16. The company has a quick ratio of 3.35, a current ratio of 3.53 and a debt-to-equity ratio of 586.91. The firm has a market cap of $446.61 million, a PE ratio of -15.56 and a beta of 1.79.

MiMedx Group (NASDAQ:MDXGGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $54.10 million. During the same period in the previous year, the business posted ($0.09) EPS.

Insider Transactions at MiMedx Group

In other news, insider Robert Benjamin Stein sold 14,600 shares of MiMedx Group stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $3.47, for a total value of $50,662.00. Following the completion of the transaction, the insider now owns 334,005 shares in the company, valued at approximately $1,158,997.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Timothy R. Wright sold 112,000 shares of MiMedx Group stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $3.75, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 1,711,324 shares in the company, valued at approximately $6,417,465. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Benjamin Stein sold 14,600 shares of MiMedx Group stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $3.47, for a total value of $50,662.00. Following the completion of the transaction, the insider now owns 334,005 shares of the company’s stock, valued at approximately $1,158,997.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,491 shares of company stock worth $484,281. 19.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. acquired a new position in MiMedx Group during the 4th quarter valued at approximately $784,000. Silvercrest Asset Management Group LLC boosted its position in MiMedx Group by 13.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 217,696 shares of the company’s stock valued at $1,315,000 after purchasing an additional 26,236 shares during the period. apricus wealth LLC acquired a new position in MiMedx Group during the 4th quarter valued at approximately $2,666,000. Citigroup Inc. boosted its position in MiMedx Group by 197.7% during the 4th quarter. Citigroup Inc. now owns 189,101 shares of the company’s stock valued at $1,142,000 after purchasing an additional 125,572 shares during the period. Finally, Fisher Asset Management LLC boosted its position in MiMedx Group by 151.9% during the 4th quarter. Fisher Asset Management LLC now owns 240,060 shares of the company’s stock valued at $1,450,000 after purchasing an additional 144,753 shares during the period. Institutional investors and hedge funds own 60.31% of the company’s stock.

MiMedx Group Company Profile

(Get Rating)

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.

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