Q2 2024 Earnings Forecast for MiMedx Group, Inc. (NASDAQ:MDXG) Issued By Northland Capmk

MiMedx Group, Inc. (NASDAQ:MDXG) – Northland Capmk lowered their Q2 2024 EPS estimates for MiMedx Group in a note issued to investors 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 forecast 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 released its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%. The company had revenue of $84.71 million for the quarter, compared to the consensus estimate of $79.36 million.

A number of other research analysts also recently commented on MDXG. Lake Street Capital assumed coverage on MiMedx Group in a research note on Thursday, March 7th. They set a “buy” rating and a $12.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of MiMedx Group in a report on Wednesday, May 1st. Finally, StockNews.com raised MiMedx Group from a “buy” rating to a “strong-buy” rating in a report on Monday, June 3rd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $12.25.

MiMedx Group Stock Performance

MiMedx Group stock opened at $6.70 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.29 and a quick ratio of 2.71. MiMedx Group has a 12 month low of $5.57 and a 12 month high of $9.27. The company has a fifty day moving average price of $7.15 and a two-hundred day moving average price of $7.64. The company has a market cap of $988.92 million, a PE ratio of 15.23 and a beta of 1.99.

Hedge Funds Weigh In On MiMedx Group

Several large investors have recently made changes to their positions in the business. AJOVista LLC bought a new position in shares of MiMedx Group in the fourth quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in shares of MiMedx Group during the first quarter valued at approximately $27,000. Entropy Technologies LP purchased a new stake in shares of MiMedx Group in the 1st quarter valued at approximately $99,000. Loudon Investment Management LLC acquired a new position in MiMedx Group in the 4th quarter worth approximately $105,000. Finally, KMG Fiduciary Partners LLC purchased a new position in MiMedx Group during the 4th quarter worth approximately $105,000. Institutional investors 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.