Research Analysts Issue Forecasts for MiMedx Group, Inc.’s Q2 2024 Earnings (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Zacks Small Cap dropped their Q2 2024 earnings per share (EPS) estimates for MiMedx Group in a note issued to investors on Wednesday, May 1st. Zacks Small Cap analyst J. Vandermosten now forecasts that the company will post earnings of $0.09 per share for the quarter, down from their prior forecast of $0.10. The consensus estimate for MiMedx Group’s current full-year earnings is $0.33 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.

A number of other brokerages have also weighed in 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 report on Friday, March 1st. Lake Street Capital began coverage on MiMedx Group in a research note on Thursday, March 7th. They set a “buy” rating and a $12.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of MiMedx Group in a report on Wednesday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $12.25.

MiMedx Group Stock Up 18.7 %

Shares of NASDAQ:MDXG opened at $7.31 on Thursday. MiMedx Group has a 52-week low of $3.79 and a 52-week high of $9.27. The company has a market capitalization of $1.08 billion, a PE ratio of 16.61 and a beta of 1.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.11 and a current ratio of 3.57. The company has a fifty day moving average of $7.39 and a 200-day moving average of $7.56.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.04). MiMedx Group had a net margin of 18.63% and a return on equity of 64.61%. The company had revenue of $86.83 million during the quarter, compared to the consensus estimate of $85.58 million.

Insider Transactions at MiMedx Group

In other news, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $8.07, for a total transaction of $125,028.51. Following the completion of the sale, the chief operating officer now directly owns 416,321 shares in the company, valued at $3,359,710.47. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, COO Ricci S. Whitlow sold 15,493 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William Frank Iv Hulse sold 20,381 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $7.95, for a total value of $162,028.95. Following the sale, the chief accounting officer now owns 479,959 shares in the company, valued at approximately $3,815,674.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,145 shares of company stock worth $409,378. Company insiders own 19.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. AJOVista LLC bought a new stake in MiMedx Group in the fourth quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MiMedx Group in the 3rd quarter valued at about $38,000. Robeco Institutional Asset Management B.V. bought a new stake in MiMedx Group in the 3rd quarter valued at about $74,000. M&T Bank Corp acquired a new position in MiMedx Group during the 3rd quarter worth approximately $75,000. Finally, E Fund Management Co. Ltd. bought a new position in MiMedx Group in the third quarter worth approximately $84,000. Institutional investors and hedge funds 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.