BidaskClub upgraded shares of MiMedx Group (NASDAQ:MDXG) from a sell rating to a hold rating in a report issued on Wednesday.

Several other research firms also recently issued reports on MDXG. Needham & Company LLC lifted their price target on shares of MiMedx Group from $20.00 to $21.00 and gave the company a strong-buy rating in a research report on Tuesday, September 5th. Piper Jaffray Companies reissued a buy rating and issued a $18.00 price target on shares of MiMedx Group in a research report on Friday, December 1st. Zacks Investment Research downgraded shares of MiMedx Group from a hold rating to a sell rating in a research report on Friday, December 8th. Finally, Lake Street Capital set a $18.00 price objective on shares of MiMedx Group and gave the stock a buy rating in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. MiMedx Group presently has an average rating of Hold and a consensus target price of $17.00.

Shares of MiMedx Group (NASDAQ MDXG) opened at $12.83 on Wednesday. MiMedx Group has a 52-week low of $7.64 and a 52-week high of $17.47. The stock has a market cap of $1,460.00, a price-to-earnings ratio of 42.77, a P/E/G ratio of 3.32 and a beta of 0.87.

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

MiMedx Group declared that its board has initiated a share buyback program on Monday, October 9th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC boosted its holdings in MiMedx Group by 678.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,769 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 5,900 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of MiMedx Group during the 2nd quarter worth $109,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of MiMedx Group during the 3rd quarter worth $119,000. PVG Asset Management Corp bought a new stake in shares of MiMedx Group during the 3rd quarter worth $127,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of MiMedx Group by 7.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,619 shares of the medical equipment provider’s stock worth $129,000 after purchasing an additional 600 shares during the period. 69.21% of the stock is currently owned by hedge funds and other institutional investors.

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About MiMedx Group

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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