MiMedx Group, Inc. to Post Q2 2024 Earnings of $0.09 Per Share, Zacks Small Cap Forecasts (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Research analysts at Zacks Small Cap lowered their Q2 2024 earnings per share (EPS) estimates for MiMedx Group in a research note issued to investors on Wednesday, May 1st. Zacks Small Cap analyst J. Vandermosten now expects that the company will earn $0.09 per share for the quarter, down from their prior forecast of $0.10. The consensus estimate for MiMedx Group’s current full-year earnings is $0.33 per share. Zacks Small Cap also issued estimates for MiMedx Group’s Q3 2024 earnings at $0.10 EPS, Q4 2024 earnings at $0.11 EPS and FY2024 earnings at $0.36 EPS.

MiMedx Group (NASDAQ:MDXG) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The firm had revenue of $86.83 million during the quarter, compared to analysts’ expectations of $85.58 million. MiMedx Group had a return on equity of 64.61% and a net margin of 18.63%.

A number of other equities research analysts also recently issued reports on MDXG. Lake Street Capital started coverage on MiMedx Group in a research report on Thursday, March 7th. They set a “buy” rating and a $12.00 price objective on the stock. Mizuho upped their target price on MiMedx Group from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of MiMedx Group in a research note on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, MiMedx Group currently has a consensus rating of “Buy” and a consensus price target of $12.25.

MiMedx Group Trading Up 2.6 %

Shares of MDXG stock opened at $7.50 on Thursday. MiMedx Group has a 1 year low of $4.47 and a 1 year high of $9.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.57 and a quick ratio of 3.11. The stock’s 50 day simple moving average is $7.38 and its two-hundred day simple moving average is $7.56. The company has a market cap of $1.11 billion, a PE ratio of 17.14 and a beta of 1.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Optimist Retirement Group LLC bought a new stake in MiMedx Group during the 4th quarter valued at $177,000. Cannell Capital LLC boosted its position in MiMedx Group by 9.1% during the 4th quarter. Cannell Capital LLC now owns 2,480,969 shares of the company’s stock valued at $21,758,000 after acquiring an additional 207,207 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in MiMedx Group by 26.9% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 261,604 shares of the company’s stock valued at $2,294,000 after acquiring an additional 55,435 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in MiMedx Group by 69.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 447,900 shares of the company’s stock valued at $3,928,000 after acquiring an additional 183,141 shares in the last quarter. Finally, Jump Financial LLC boosted its position in MiMedx Group by 8.7% during the 4th quarter. Jump Financial LLC now owns 97,260 shares of the company’s stock valued at $853,000 after acquiring an additional 7,753 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Insider Activity

In related news, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $8.07, for a total value of $125,028.51. Following the transaction, the chief operating officer now owns 416,321 shares of the company’s stock, valued at $3,359,710.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO William Frank Iv Hulse sold 20,381 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $7.95, for a total value of $162,028.95. Following the transaction, the chief accounting officer now owns 479,959 shares of the company’s stock, valued at $3,815,674.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Ricci S. Whitlow sold 15,493 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $8.07, for a total value of $125,028.51. Following the completion of the transaction, the chief operating officer now directly owns 416,321 shares in the company, valued at approximately $3,359,710.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,145 shares of company stock valued at $409,378. 19.90% of the stock is currently owned by insiders.

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.