MiMedx Group, Inc. to Post Q2 2024 Earnings of $0.05 Per Share, Northland Capmk Forecasts (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Equities research analysts at Northland Capmk dropped their Q2 2024 earnings estimates for MiMedx Group in a report issued on Monday, July 1st. Northland Capmk analyst C. Byrnes now anticipates that the company will post earnings of $0.05 per share for the quarter, down from their previous 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 earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $84.71 million during the quarter, compared to analyst estimates of $79.36 million. MiMedx Group had a return on equity of 39.42% and a net margin of 18.63%.

MDXG has been the topic of several other research reports. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of MiMedx Group in a report on Wednesday, May 1st. Lake Street Capital initiated coverage on shares of MiMedx Group in a report on Thursday, March 7th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, StockNews.com upgraded MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 3rd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.25.

MiMedx Group Price Performance

Shares of NASDAQ:MDXG opened at $6.70 on Tuesday. MiMedx Group has a twelve month low of $5.57 and a twelve month high of $9.27. The stock’s 50 day moving average is $7.15 and its 200-day moving average is $7.64. The company has a quick ratio of 2.71, a current ratio of 3.29 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $988.92 million, a price-to-earnings ratio of 15.23 and a beta of 1.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AJOVista LLC bought a new position in shares of MiMedx Group during the 4th quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in MiMedx Group during the first quarter worth $27,000. KMG Fiduciary Partners LLC purchased a new position in MiMedx Group in the fourth quarter worth $105,000. Loudon Investment Management LLC purchased a new stake in shares of MiMedx Group during the 4th quarter valued at $105,000. Finally, Entropy Technologies LP bought a new stake in shares of MiMedx Group during the 1st quarter worth $99,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.