Zacks Small Cap Comments on MiMedx Group, Inc.’s FY2023 Earnings (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXGGet Rating) – Investment analysts at Zacks Small Cap decreased their FY2023 earnings per share (EPS) estimates for MiMedx Group in a research report issued on Thursday, August 4th. Zacks Small Cap analyst J. Vandermosten now anticipates that the company will post earnings per share of $0.25 for the year, down from their prior forecast of $0.29. The consensus estimate for MiMedx Group’s current full-year earnings is ($0.21) per share. Zacks Small Cap also issued estimates for MiMedx Group’s FY2024 earnings at $0.38 EPS.

MiMedx Group Stock Up 4.0 %

Shares of NASDAQ:MDXG opened at $3.94 on Friday. The stock’s 50-day moving average price is $3.58 and its two-hundred day moving average price is $4.16. The company has a current ratio of 3.53, a quick ratio of 3.35 and a debt-to-equity ratio of 586.91. MiMedx Group has a 12-month low of $3.04 and a 12-month high of $8.69. The firm has a market cap of $446.61 million, a price-to-earnings ratio of -15.56 and a beta of 1.79.

MiMedx Group (NASDAQ:MDXGGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $54.10 million. During the same quarter last year, the firm posted ($0.09) earnings per share.

Hedge Funds Weigh In On MiMedx Group

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of MiMedx Group in the 2nd quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new position in shares of MiMedx Group in the 4th quarter worth about $41,000. KMG Fiduciary Partners LLC purchased a new position in shares of MiMedx Group in the 2nd quarter worth about $41,000. Spinnaker Investment Group LLC purchased a new position in shares of MiMedx Group in the 4th quarter worth about $47,000. Finally, Tiedemann Advisors LLC purchased a new stake in shares of MiMedx Group during the 1st quarter valued at about $49,000. 60.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MiMedx Group news, insider Robert Benjamin Stein sold 14,600 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $3.47, for a total value of $50,662.00. Following the sale, the insider now directly owns 334,005 shares of the company’s stock, valued at approximately $1,158,997.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Timothy R. Wright sold 112,000 shares of the firm’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $3.75, for a total value of $420,000.00. Following the transaction, the chief executive officer now directly owns 1,711,324 shares in the company, valued at approximately $6,417,465. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Benjamin Stein sold 14,600 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $3.47, for a total value of $50,662.00. Following the completion of the transaction, the insider now owns 334,005 shares in the company, valued at $1,158,997.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,491 shares of company stock valued at $484,281. Insiders own 19.80% of the company’s stock.

About MiMedx Group

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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.

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