Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Kimberly Maersk-Moller, the Chief Commercial Officer of MiMedx Group, Inc. (NASDAQ:MDXG), recently sold 4,106 shares of the company’s common stock. The shares were sold at a price of $7.89 per share, amounting to a total transaction value of $32,396. Following this transaction on March 13, Maersk-Moller retains ownership of 310,836 shares. The sale comes as MiMedx, a $1.16 billion market cap company, maintains strong financial health with an impressive gross profit margin of 83% and healthy liquidity metrics, according to InvestingPro data.
The sale was conducted in connection with the vesting of a previously granted restricted stock unit award, as per company policy. The proceeds from the sale were used to cover the tax withholding liability arising from the vesting of the restricted stock units. InvestingPro analysis shows the stock has experienced a significant 27% price increase over the past six months, with 8 additional ProTips available to subscribers, including insights on the company’s debt levels and profitability outlook.
In other recent news, MiMedx Group Inc . reported strong financial results for the fourth quarter of 2024, exceeding market expectations. The company announced earnings per share (EPS) of $0.07, surpassing the forecast of $0.06, and achieved revenue of $93 million, which was higher than the anticipated $89.4 million. This performance marked a 7% increase in revenue compared to the previous year. MiMedx ended the year with $104 million in cash, reflecting a $16 million increase in the fourth quarter. Despite these positive financial results, MiMedx’s stock experienced a slight dip in after-hours trading. Analysts have noted the company’s expectation for high single-digit sales growth in 2025, with an adjusted EBITDA margin projected to remain above 20%. Additionally, the company is preparing for potential impacts from Medicare Local Coverage Determination (LCD) changes, which could affect pricing and sales volumes. MiMedx is also engaged in ongoing legal disputes with competitors, which remain a focus as the company seeks to protect its market position.
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