MiMedx Group (NASDAQ:MDXG) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reissued their buy rating on shares of MiMedx Group (NASDAQ:MDXG) in a report issued on Wednesday, Benzinga reports. The firm currently has a $11.00 price target on the stock. HC Wainwright also issued estimates for MiMedx Group’s Q4 2024 earnings at $0.11 EPS.

Several other analysts also recently weighed in on the company. Mizuho lifted their target price on MiMedx Group from $13.00 to $14.00 and gave the stock a buy rating in a research report on Friday, March 1st. Lake Street Capital started coverage on shares of MiMedx Group in a report on Thursday, March 7th. They set a buy rating and a $12.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $12.25.

MiMedx Group Stock Up 18.7 %

Shares of NASDAQ MDXG opened at $7.31 on Wednesday. The company has a market cap of $1.08 billion, a P/E ratio of 16.61 and a beta of 1.44. The firm has a 50-day simple moving average of $7.39 and a two-hundred day simple moving average of $7.56. MiMedx Group has a 1 year low of $3.79 and a 1 year high of $9.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.57 and a quick ratio of 3.11.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results 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). MiMedx Group had a return on equity of 64.61% and a net margin of 18.63%. The business had revenue of $86.83 million for the quarter, compared to the consensus estimate of $85.58 million. Research analysts anticipate that MiMedx Group will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Ricci S. Whitlow sold 15,493 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $8.07, for a total transaction of $125,028.51. Following the transaction, the chief operating officer now owns 416,321 shares in the company, valued at $3,359,710.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Ricci S. Whitlow sold 15,493 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $8.07, for a total value of $125,028.51. Following the completion of the sale, the chief operating officer now owns 416,321 shares of the company’s stock, valued at approximately $3,359,710.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ricci S. Whitlow sold 15,271 shares of the 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 transaction, the chief operating officer now owns 401,050 shares in the company, valued at $3,212,410.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,145 shares of company stock worth $409,378. 19.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in MiMedx Group by 4.1% during the third quarter. Vanguard Group Inc. now owns 6,437,155 shares of the company’s stock valued at $46,927,000 after purchasing an additional 250,812 shares in the last quarter. Cannell Capital LLC boosted its holdings in shares of MiMedx Group by 9.1% in the 4th quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock valued at $21,758,000 after buying an additional 207,207 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of MiMedx Group by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,134,213 shares of the company’s stock worth $9,947,000 after buying an additional 57,704 shares during the last quarter. EAM Investors LLC raised its stake in shares of MiMedx Group by 20.9% during the 3rd quarter. EAM Investors LLC now owns 664,213 shares of the company’s stock worth $4,842,000 after acquiring an additional 114,880 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in MiMedx Group by 1,577.5% during the fourth quarter. Russell Investments Group Ltd. now owns 525,059 shares of the company’s stock valued at $4,605,000 after acquiring an additional 493,759 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

About MiMedx Group

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.