Northland Capmk Comments on MiMedx Group, Inc.’s Q2 2024 Earnings (NASDAQ:MDXG)

MiMedx Group, Inc. (NASDAQ:MDXG) – Investment analysts at Northland Capmk dropped their Q2 2024 earnings per share estimates for shares of MiMedx Group in a research report issued to clients and investors on Monday, July 1st. Northland Capmk analyst C. Byrnes now forecasts that the company will post earnings of $0.05 per share for the quarter, down from their prior forecast 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.

MDXG has been the topic of a number of other reports. StockNews.com upgraded shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 3rd. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of MiMedx Group in a research note on Wednesday, May 1st. 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 target on the stock. Finally, Cantor Fitzgerald assumed coverage on MiMedx Group in a report on Tuesday. They issued an “overweight” rating and a $11.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $12.00.

MiMedx Group Price Performance

MDXG opened at $6.78 on Tuesday. MiMedx Group has a fifty-two week low of $5.57 and a fifty-two week high of $9.27. The firm has a 50-day moving average of $7.16 and a 200 day moving average of $7.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.29. The firm has a market cap of $1.00 billion, a P/E ratio of 15.41 and a beta of 1.99.

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

Hedge Funds Weigh In On MiMedx Group

Several hedge funds have recently made changes to their positions in MDXG. AJOVista LLC bought a new position in MiMedx Group in the 4th quarter worth about $25,000. Headlands Technologies LLC bought a new position in shares of MiMedx Group in the first quarter valued at approximately $27,000. Entropy Technologies LP purchased a new position in MiMedx Group during the first quarter valued at approximately $99,000. Loudon Investment Management LLC bought a new stake in MiMedx Group during the 4th quarter worth approximately $105,000. Finally, KMG Fiduciary Partners LLC purchased a new stake in MiMedx Group in the 4th quarter worth approximately $105,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.