Equities Analysts Offer Predictions for MiMedx Group, Inc.’s Q2 2024 Earnings (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Equities research analysts at Zacks Small Cap reduced their Q2 2024 earnings estimates for shares of MiMedx Group in a research note issued to investors on Wednesday, May 1st. Zacks Small Cap analyst J. Vandermosten now forecasts that the company will earn $0.09 per share for the quarter, down from their previous forecast of $0.10. The consensus estimate for MiMedx Group’s current full-year earnings is $0.32 per share. Zacks Small Cap also issued estimates for MiMedx Group’s Q3 2024 earnings at $0.10 EPS, Q4 2024 earnings at $0.11 EPS and FY2024 earnings at $0.36 EPS.

Several other brokerages have also commented on MDXG. StockNews.com lowered MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of MiMedx Group in a report on Wednesday. Lake Street Capital initiated coverage on shares of MiMedx Group in a research report on Thursday, March 7th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Mizuho upped their target price on shares of MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.25.

MiMedx Group Price Performance

Shares of NASDAQ MDXG opened at $7.37 on Thursday. The firm has a market capitalization of $1.09 billion, a P/E ratio of 16.75 and a beta of 1.44. The company has a quick ratio of 3.11, a current ratio of 3.29 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $7.36 and its two-hundred day simple moving average is $7.56. MiMedx Group has a twelve month low of $5.13 and a twelve month high of $9.27.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The business had revenue of $86.83 million during the quarter, compared to analysts’ expectations of $85.58 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%.

Institutional Investors Weigh In On MiMedx Group

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of MiMedx Group in the 3rd quarter worth approximately $289,000. Robeco Institutional Asset Management B.V. bought a new position in MiMedx Group in the 3rd quarter worth $74,000. Bank of New York Mellon Corp lifted its position in shares of MiMedx Group by 7.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 424,221 shares of the company’s stock worth $3,093,000 after purchasing an additional 28,305 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MiMedx Group by 97.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,066 shares of the company’s stock valued at $219,000 after purchasing an additional 14,862 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of MiMedx Group during the third quarter valued at about $88,000. Institutional investors own 79.15% of the company’s stock.

Insiders Place Their Bets

In other news, CAO William Frank Iv Hulse sold 20,381 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the completion of the sale, the chief accounting officer now owns 479,959 shares of the company’s stock, valued at approximately $3,815,674.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other MiMedx Group news, COO Ricci S. Whitlow sold 15,493 shares of MiMedx Group stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $8.07, for a total value of $125,028.51. Following the transaction, the chief operating officer now directly owns 416,321 shares of the company’s stock, valued at approximately $3,359,710.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William Frank Iv Hulse sold 20,381 shares of the company’s stock in a transaction 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 owns 479,959 shares of the company’s stock, valued at $3,815,674.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,145 shares of company stock valued at $409,378. 19.90% of the stock is currently owned by corporate insiders.

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.