HC Wainwright Weighs in on MiMedx Group, Inc.’s Q1 2023 Earnings (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG – Get Rating) – Investment analysts at HC Wainwright boosted their Q1 2023 earnings estimates for shares of MiMedx Group in a research note issued to investors on Thursday, March 2nd. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings per share of ($0.07) for the quarter, up from their previous forecast of ($0.12). HC Wainwright currently has a “Buy” rating and a $8.00 price target on the stock. HC Wainwright also issued estimates for MiMedx Group’s Q2 2023 earnings at $0.00 EPS, Q3 2023 earnings at $0.01 EPS, Q4 2023 earnings at $0.05 EPS, FY2023 earnings at $0.01 EPS and FY2026 earnings at $0.71 EPS.

Separately, StockNews.com raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Friday.

MiMedx Group Price Performance

Shares of NASDAQ MDXG opened at $4.42 on Monday. The stock has a market capitalization of $504.23 million, a price-to-earnings ratio of -13.39 and a beta of 1.60. MiMedx Group has a 12 month low of $2.43 and a 12 month high of $5.20. The firm’s 50 day simple moving average is $3.83 and its 200-day simple moving average is $3.39.

Insider Transactions at MiMedx Group

In related news, CAO William Frank Iv Hulse sold 15,555 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $4.53, for a total value of $70,464.15. Following the completion of the transaction, the chief accounting officer now directly owns 349,361 shares of the company’s stock, valued at $1,582,605.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO William Frank Iv Hulse sold 15,555 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $4.53, for a total transaction of $70,464.15. Following the completion of the sale, the chief accounting officer now owns 349,361 shares in the company, valued at $1,582,605.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter M. Carlson sold 19,000 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $4.50, for a total value of $85,500.00. Following the transaction, the chief financial officer now directly owns 546,206 shares in the company, valued at approximately $2,457,927. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,547 shares of company stock valued at $170,042. 19.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MiMedx Group

A number of large investors have recently modified their holdings of MDXG. Vanguard Group Inc. lifted its holdings in shares of MiMedx Group by 28.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,018,658 shares of the company’s stock worth $17,274,000 after purchasing an additional 1,349,728 shares during the last quarter. State Street Corp grew its holdings in shares of MiMedx Group by 6.0% in the 1st quarter. State Street Corp now owns 4,406,544 shares of the company’s stock worth $20,755,000 after acquiring an additional 250,334 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of MiMedx Group by 52.5% during the second quarter. Federated Hermes Inc. now owns 2,621,166 shares of the company’s stock valued at $9,096,000 after buying an additional 902,417 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of MiMedx Group by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,099,637 shares of the company’s stock valued at $5,836,000 after buying an additional 45,626 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY grew its stake in MiMedx Group by 62.3% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,845,300 shares of the company’s stock valued at $5,130,000 after purchasing an additional 708,000 shares in the last quarter. 56.56% of the stock is currently owned by hedge funds and other institutional investors.

MiMedx Group Company Profile

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MiMedx Group, Inc is a therapeutic biologics company, which engages in the design, manufacture, and marketing of products, and tissue processing services. It serves the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare. Its biomaterial platform technologies include AmnioFix and EpiFix, a tissue allografts derived from amnion and chorion layers of human placental membrane, EpiCord and AmnioCord, a tissue allografts derived from umbilical cord tissue, and AmnioFill, a placental connective tissue matrix derived from the placental disc and other placental tissue.