MiMedx Group, Inc. (NASDAQ:MDXG) to Post Q3 2024 Earnings of $0.05 Per Share, Northland Capmk Forecasts

MiMedx Group, Inc. (NASDAQ:MDXG) – Equities researchers at Northland Capmk reduced their Q3 2024 earnings per share estimates for shares of MiMedx Group in a research note issued on Thursday, August 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 previous forecast of $0.06. The consensus estimate for MiMedx Group’s current full-year earnings is $0.32 per share. Northland Capmk also issued estimates for MiMedx Group’s Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.23 EPS and FY2025 earnings at $0.30 EPS.

A number of other equities research analysts also recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of MiMedx Group in a research report on Thursday, August 1st. StockNews.com downgraded shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Monday. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of MiMedx Group in a research report on Wednesday, May 1st. Finally, Craig Hallum lowered their target price on MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $12.00.

MiMedx Group Stock Performance

MDXG stock opened at $6.38 on Monday. The firm has a 50 day simple moving average of $7.04 and a 200 day simple moving average of $7.40. MiMedx Group has a 52 week low of $5.57 and a 52 week high of $9.27. The stock has a market cap of $941.71 million, a P/E ratio of 14.50 and a beta of 1.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.71 and a current ratio of 3.85.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AJOVista LLC bought a new stake in MiMedx Group in the fourth quarter worth $25,000. Headlands Technologies LLC acquired a new stake in shares of MiMedx Group in the first quarter worth about $27,000. Quest Partners LLC bought a new stake in shares of MiMedx Group during the 2nd quarter worth about $81,000. Loudon Investment Management LLC acquired a new position in shares of MiMedx Group during the 4th quarter valued at about $105,000. Finally, Entropy Technologies LP acquired a new position in shares of MiMedx Group during the 1st quarter valued at about $99,000. Institutional investors own 79.15% of the company’s stock.

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.