MiMedx Group (NASDAQ:MDXG) Hits New 52-Week High – Here’s Why

MiMedx Group, Inc. (NASDAQ:MDXG) shares reached a new 52-week high on Friday . The stock traded as high as $9.34 and last traded at $9.29, with a volume of 653860 shares traded. The stock had previously closed at $9.23.

Analysts Set New Price Targets

A number of analysts recently commented on MDXG shares. StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Craig Hallum dropped their target price on MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of MiMedx Group in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $12.00.

MiMedx Group Stock Up 0.5 %

The company’s 50 day simple moving average is $6.30 and its 200-day simple moving average is $6.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. The firm has a market capitalization of $1.36 billion, a PE ratio of 16.87 and a beta of 1.94.

Institutional Investors Weigh In On MiMedx Group

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in MiMedx Group in the 1st quarter worth about $27,000. Blue Trust Inc. bought a new position in shares of MiMedx Group in the third quarter worth approximately $30,000. Point72 Asset Management L.P. purchased a new stake in MiMedx Group in the second quarter valued at approximately $40,000. Point72 DIFC Ltd raised its stake in MiMedx Group by 127.6% in the third quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after purchasing an additional 4,275 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in MiMedx Group during the third quarter valued at approximately $64,000. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Company Profile

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.