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

MiMedx Group, Inc. (NASDAQ:MDXG) – Research analysts at HC Wainwright increased their Q2 2024 earnings per share estimates for shares of MiMedx Group in a research report issued to clients and investors on Wednesday, May 1st. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings of $0.10 per share for the quarter, up from their previous 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 $0.32 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 research firms have also commented on MDXG. Mizuho boosted their price objective on MiMedx Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Lake Street Capital assumed coverage on MiMedx Group in a report on Thursday, March 7th. They set a “buy” rating and a $12.00 price objective for the company. Finally, StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $12.25.

MiMedx Group Price Performance

MiMedx Group stock opened at $7.37 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.11 and a current ratio of 3.29. The firm has a market cap of $1.09 billion, a P/E ratio of 16.75 and a beta of 1.44. The business’s fifty day moving average is $7.36 and its two-hundred day moving average is $7.56. MiMedx Group has a 52 week low of $5.13 and a 52 week high of $9.27.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 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 analyst estimates of $85.58 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%.

Insider Buying and Selling

In related news, COO Ricci S. Whitlow sold 15,271 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.01, for a total transaction of $122,320.71. Following the completion of the transaction, the chief operating officer now owns 401,050 shares in the company, valued at $3,212,410.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO William Frank Iv Hulse sold 20,381 shares of MiMedx Group stock in a transaction dated 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 owns 479,959 shares in the company, valued at approximately $3,815,674.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ricci S. Whitlow sold 15,271 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 401,050 shares of the company’s stock, valued at $3,212,410.50. The disclosure for this sale can be found here. Insiders have sold 51,145 shares of company stock valued at $409,378 in the last 90 days. 19.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MDXG. SG Americas Securities LLC acquired a new stake in shares of MiMedx Group during the third quarter worth $289,000. Robeco Institutional Asset Management B.V. acquired a new position in MiMedx Group in the 3rd quarter worth $74,000. Bank of New York Mellon Corp boosted its stake in 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 MiMedx Group by 97.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,066 shares of the company’s stock worth $219,000 after purchasing an additional 14,862 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in MiMedx Group in the 3rd quarter worth $88,000. Institutional investors 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.