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Mimedx group general counsel sells $635,278 in stock

Published 13/03/2025, 01:00
Mimedx group general counsel sells $635,278 in stock
MDXG
0.07%

William Frank Hulse IV, the General Counsel and Chief Administrative Officer of MiMedx Group Inc . (NASDAQ:MDXG), recently sold 81,446 shares of the company’s common stock. The shares were sold at an average price of $7.80, totaling approximately $635,278. The transaction comes as MiMedx, currently valued at $1.19 billion, trades at $8.10 per share. According to InvestingPro analysis, the stock appears overvalued at current levels, despite showing strong financial health with a "GREAT" overall rating. Following this transaction, Hulse retains direct ownership of 494,774 shares of MiMedx Group.

In addition to the stock sale, Hulse holds stock options for 108,432 shares, with an exercise price of $8.30. These options are set to expire on March 3, 2032.

In other recent news, MiMedx Group Inc. reported its fourth-quarter 2024 earnings, showcasing a strong performance with earnings per share (EPS) of $0.07, surpassing analyst expectations of $0.06. The company also exceeded revenue forecasts, bringing in $93 million compared to the anticipated $89.4 million, marking a 7% increase year-over-year. MiMedx ended the year with a cash reserve of $104 million, a $16 million increase from the previous quarter. Analysts from firms like Craig Hallum Capital Group and Cantor Fitzgerald noted the company’s steady performance despite challenges, such as the anticipated impact of Medicare Local Coverage Determination (LCD) changes. The company projects high single-digit sales growth in 2025, with an expected adjusted EBITDA margin remaining above 20%. MiMedx is also preparing for potential market shifts due to the upcoming Medicare reimbursement changes, which could influence product demand and sales strategies. Additionally, the company is actively addressing legal disputes with competitors and continues to focus on expanding its product portfolio and market presence.

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