MiMedx Group, Inc. (NASDAQ:MDXG) Expected to Earn FY2024 Earnings of $0.25 Per Share

MiMedx Group, Inc. (NASDAQ:MDXG) – Stock analysts at Northland Capmk reduced their FY2024 earnings per share estimates for shares of MiMedx Group in a research note issued on Monday, July 1st. Northland Capmk analyst C. Byrnes now forecasts that the company will post earnings of $0.25 per share for the year, down from their previous estimate of $0.29. The consensus estimate for MiMedx Group’s current full-year earnings is $0.34 per share.

Several other analysts also recently issued reports on the company. StockNews.com raised MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 3rd. Cantor Fitzgerald initiated coverage on MiMedx Group in a research note on Tuesday. They set an “overweight” rating and a $11.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of MiMedx Group in a research note on Wednesday, May 1st. Finally, Lake Street Capital initiated coverage on MiMedx Group in a research note on Thursday, March 7th. They set a “buy” rating and a $12.00 target price on the stock. Five 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.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.00.

MiMedx Group Price Performance

NASDAQ MDXG opened at $6.78 on Wednesday. The stock’s 50-day moving average price is $7.16 and its two-hundred day moving average price is $7.63. The company has a current ratio of 3.29, a quick ratio of 2.71 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.00 billion, a PE ratio of 15.41 and a beta of 1.99. MiMedx Group has a 1 year low of $5.57 and a 1 year high of $9.27.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm had revenue of $84.71 million for the quarter, compared to the consensus estimate of $79.36 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%.

Institutional Investors Weigh In On MiMedx Group

Large investors have recently made changes to their positions in the company. AJOVista LLC bought a new stake in shares of MiMedx Group in the 4th quarter valued at approximately $25,000. Headlands Technologies LLC bought a new stake in shares of MiMedx Group in the 1st quarter valued at approximately $27,000. Entropy Technologies LP bought a new stake in shares of MiMedx Group in the 1st quarter valued at approximately $99,000. Loudon Investment Management LLC bought a new stake in shares of MiMedx Group in the 4th quarter valued at approximately $105,000. Finally, KMG Fiduciary Partners LLC bought a new stake in shares of MiMedx Group in the 4th quarter valued at approximately $105,000. Institutional investors own 79.15% of the company’s stock.

About MiMedx Group

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.