MiMedx Group (NASDAQ:MDXG) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research firms have also weighed in on MDXG. Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of MiMedx Group in a report on Monday, October 30th. Lake Street Capital set a $18.00 target price on MiMedx Group and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $18.00 target price on shares of MiMedx Group in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.00.

Shares of MiMedx Group (NASDAQ:MDXG) opened at $14.32 on Thursday. The stock has a market capitalization of $1,590.00, a PE ratio of 47.73, a PEG ratio of 1.73 and a beta of 0.88. MiMedx Group has a 1-year low of $7.64 and a 1-year high of $17.47.

MiMedx Group (NASDAQ:MDXG) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. The business had revenue of $84.60 million during the quarter, compared to analyst estimates of $84.60 million. During the same period in the previous year, the company earned $0.06 EPS. The firm’s revenue was up 31.4% on a year-over-year basis. equities research analysts expect that MiMedx Group will post 0.23 EPS for the current year.

MiMedx Group announced that its board has authorized a stock buyback program on Monday, October 9th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the medical equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC lifted its holdings in shares of MiMedx Group by 678.9% during the second quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock worth $101,000 after buying an additional 5,900 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of MiMedx Group during the second quarter worth approximately $109,000. Ameritas Investment Partners Inc. lifted its holdings in shares of MiMedx Group by 7.5% during the second quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after buying an additional 600 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of MiMedx Group during the third quarter worth approximately $119,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of MiMedx Group during the second quarter worth approximately $157,000. Hedge funds and other institutional investors own 69.21% of the company’s stock.

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MiMedx Group Company Profile

MiMedx Group, Inc is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants human placental tissue, skin and bone. The Company’s Regenerative Biomaterials segment includes the design, manufacture, and marketing of products and tissue processing services for the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental market categories.

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