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

MiMedx Group, Inc. (NASDAQ:MDXG) – Research analysts at Northland Capmk reduced their FY2024 EPS estimates for MiMedx Group in a research note issued to investors on Monday, July 1st. Northland Capmk analyst C. Byrnes now forecasts that the company will earn $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.

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

MDXG has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of MiMedx Group in a research note on Wednesday, May 1st. Cantor Fitzgerald initiated coverage on shares of MiMedx Group in a research note on Tuesday. They set an “overweight” rating and a $11.00 price objective on the stock. StockNews.com downgraded shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Lake Street Capital assumed coverage on shares of MiMedx Group in a report on Thursday, March 7th. They set a “buy” rating and a $12.00 target price 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 Price Performance

Shares of MDXG stock opened at $6.82 on Wednesday. MiMedx Group has a twelve month low of $5.57 and a twelve month high of $9.27. 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 capitalization of $1.01 billion, a PE ratio of 15.50 and a beta of 1.99. The firm has a fifty day simple moving average of $7.17 and a 200-day simple moving average of $7.62.

Hedge Funds Weigh In On MiMedx Group

Several large investors have recently bought and sold shares of MDXG. AJOVista LLC acquired a new position in MiMedx Group during the 4th quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in MiMedx Group during the 1st quarter valued at about $27,000. Entropy Technologies LP acquired a new position in MiMedx Group during the 1st quarter valued at about $99,000. Loudon Investment Management LLC acquired a new position in MiMedx Group during the 4th quarter valued at about $105,000. Finally, KMG Fiduciary Partners LLC acquired a new position in MiMedx Group during the 4th quarter valued at about $105,000. Institutional investors and hedge funds 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.