MiMedx Group, Inc. (NASDAQ:MDXG – Get Rating) – HC Wainwright raised their Q2 2023 earnings estimates for shares of MiMedx Group in a research note issued on Wednesday, June 21st. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings of ($0.02) per share for the quarter, up from their previous forecast of ($0.03). The consensus estimate for MiMedx Group’s current full-year earnings is ($0.08) per share. HC Wainwright also issued estimates for MiMedx Group’s Q3 2023 earnings at $0.02 EPS, Q4 2023 earnings at $0.07 EPS, FY2023 earnings at $0.03 EPS, Q1 2024 earnings at $0.01 EPS, Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.05 EPS, FY2024 earnings at $0.22 EPS, FY2025 earnings at $0.56 EPS and FY2026 earnings at $0.70 EPS.
MiMedx Group (NASDAQ:MDXG – Get Rating) last posted its earnings results on Tuesday, May 2nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm had revenue of $71.68 million for the quarter, compared to analysts’ expectations of $63.48 million.
MiMedx Group Price Performance
NASDAQ:MDXG opened at $6.45 on Friday. The firm has a market cap of $745.62 million, a price-to-earnings ratio of -23.03 and a beta of 1.54. The company has a 50 day moving average price of $5.32 and a 200-day moving average price of $4.20. MiMedx Group has a 1-year low of $2.43 and a 1-year high of $6.59.
Institutional Investors Weigh In On MiMedx Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of MiMedx Group by 2.3% during the 1st quarter. BlackRock Inc. now owns 7,957,552 shares of the company’s stock valued at $27,135,000 after acquiring an additional 176,031 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of MiMedx Group by 28.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,018,658 shares of the company’s stock valued at $17,274,000 after acquiring an additional 1,349,728 shares during the last quarter. State Street Corp boosted its position in shares of MiMedx Group by 6.0% during the 1st quarter. State Street Corp now owns 4,406,544 shares of the company’s stock valued at $20,755,000 after acquiring an additional 250,334 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its position in shares of MiMedx Group by 87.0% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 3,450,402 shares of the company’s stock valued at $11,766,000 after acquiring an additional 1,605,102 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of MiMedx Group by 4.7% during the 1st quarter. Geode Capital Management LLC now owns 2,198,537 shares of the company’s stock valued at $7,497,000 after acquiring an additional 98,900 shares during the last quarter. Institutional investors and hedge funds own 59.27% of the company’s stock.
Insider Activity at MiMedx Group
In related news, CAO William Frank Iv Hulse sold 5,870 shares of MiMedx Group stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.93, for a total value of $34,809.10. Following the sale, the chief accounting officer now owns 456,564 shares of the company’s stock, valued at approximately $2,707,424.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MiMedx Group news, CAO William Frank Iv Hulse sold 5,870 shares of MiMedx Group stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.93, for a total transaction of $34,809.10. Following the sale, the chief accounting officer now owns 456,564 shares of the company’s stock, valued at approximately $2,707,424.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Benjamin Stein sold 5,869 shares of MiMedx Group stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $5.93, for a total transaction of $34,803.17. Following the sale, the insider now directly owns 331,775 shares in the company, valued at approximately $1,967,425.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,715 shares of company stock valued at $520,081. 19.90% of the stock is owned by company insiders.
About MiMedx Group
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.
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