Northland Capmk Equities Analysts Decrease Earnings Estimates for MiMedx Group, Inc. (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Equities research analysts at Northland Capmk lowered their Q2 2024 earnings estimates for shares of MiMedx Group in a report issued on Monday, July 1st. Northland Capmk analyst C. Byrnes now anticipates that the company will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.07. The consensus estimate for MiMedx Group’s current full-year earnings is $0.34 per share. Northland Capmk also issued estimates for MiMedx Group’s Q3 2024 earnings at $0.06 EPS.

MiMedx Group (NASDAQ:MDXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. MiMedx Group had a net margin of 18.63% and a return on equity of 39.42%. The company had revenue of $84.71 million during the quarter, compared to analysts’ expectations of $79.36 million.

Several other equities analysts have also recently commented on the stock. Lake Street Capital began coverage on shares of MiMedx Group in a research report on Thursday, March 7th. They issued a “buy” rating and a $12.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of MiMedx Group in a research report on Wednesday, May 1st. StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald assumed coverage on shares of MiMedx Group in a report on Tuesday. They issued an “overweight” rating and a $11.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.00.

MiMedx Group Stock Performance

Shares of MDXG stock opened at $6.82 on Tuesday. The company has a quick ratio of 2.71, a current ratio of 3.29 and a debt-to-equity ratio of 0.12. MiMedx Group has a 52 week low of $5.57 and a 52 week high of $9.27. The stock has a market capitalization of $1.01 billion, a PE ratio of 15.50 and a beta of 1.99. The firm has a 50 day moving average of $7.17 and a two-hundred day moving average of $7.62.

Institutional Investors Weigh In On MiMedx Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its stake in MiMedx Group by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 20,735 shares of the company’s stock worth $160,000 after acquiring an additional 1,631 shares in the last quarter. Victory Capital Management Inc. raised its stake in MiMedx Group by 23.1% during the 4th quarter. Victory Capital Management Inc. now owns 14,916 shares of the company’s stock worth $131,000 after acquiring an additional 2,796 shares in the last quarter. AJOVista LLC acquired a new stake in MiMedx Group during the 4th quarter worth $25,000. New York State Common Retirement Fund increased its stake in MiMedx Group by 6.9% in the fourth quarter. New York State Common Retirement Fund now owns 49,419 shares of the company’s stock valued at $433,000 after purchasing an additional 3,204 shares during the period. Finally, Headlands Technologies LLC acquired a new position in MiMedx Group in the first quarter valued at $27,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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.