MiMedx Group, Inc (MDXG) Given Buy Rating at Needham & Company LLC

MiMedx Group, Inc (NASDAQ:MDXG)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Monday, October 30th. They presently have a $21.00 price target on the medical equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 77.82% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Piper Jaffray Companies reissued a “buy” rating and issued a $18.00 price target on shares of MiMedx Group in a research note on Sunday, August 20th. BidaskClub raised MiMedx Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Lake Street Capital lifted their price target on MiMedx Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research lowered MiMedx Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.40.

MiMedx Group (MDXG) opened at $11.81 on Monday. The stock has a market capitalization of $1,372.39, a PE ratio of 58.86, a P/E/G ratio of 2.94 and a beta of 0.91. MiMedx Group has a fifty-two week low of $7.64 and a fifty-two week high of $17.47.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.08. The firm had revenue of $84.60 million for the quarter, compared to analysts’ expectations of $84.60 million. MiMedx Group had a return on equity of 17.49% and a net margin of 11.64%. MiMedx Group’s revenue was up 31.4% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. research analysts predict that MiMedx Group will post 0.24 EPS for the current fiscal year.

MiMedx Group announced that its Board of Directors has approved a share buyback program on Wednesday, July 26th that allows the company to buyback $14.00 million in shares. This buyback authorization allows the medical equipment provider to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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Several institutional investors have recently made changes to their positions in MDXG. BlackRock Inc. lifted its holdings in shares of MiMedx Group by 136,884.9% during the 1st quarter. BlackRock Inc. now owns 12,105,354 shares of the medical equipment provider’s stock valued at $115,364,000 after buying an additional 12,096,517 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of MiMedx Group by 471.3% during the 3rd quarter. Prudential Financial Inc. now owns 1,071,229 shares of the medical equipment provider’s stock valued at $12,726,000 after buying an additional 883,709 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of MiMedx Group by 728.9% during the 2nd quarter. Gotham Asset Management LLC now owns 830,253 shares of the medical equipment provider’s stock valued at $12,429,000 after buying an additional 730,092 shares during the last quarter. State Street Corp lifted its holdings in shares of MiMedx Group by 21.9% during the 2nd quarter. State Street Corp now owns 3,960,317 shares of the medical equipment provider’s stock valued at $59,281,000 after buying an additional 710,515 shares during the last quarter. Finally, Kestrel Investment Management Corp acquired a new stake in shares of MiMedx Group during the 2nd quarter valued at about $10,210,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

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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