MiMedx Group (NASDAQ:MDXG) Reaches New 52-Week High – What’s Next?

MiMedx Group, Inc. (NASDAQ:MDXG) shares reached a new 52-week high on Wednesday . The company traded as high as $9.64 and last traded at $9.46, with a volume of 183920 shares trading hands. The stock had previously closed at $9.23.

Wall Street Analysts Forecast Growth

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

MiMedx Group Trading Up 2.7 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53. The company has a fifty day moving average of $6.72 and a 200-day moving average of $6.86. The firm has a market capitalization of $1.39 billion, a PE ratio of 16.78 and a beta of 1.94.

Hedge Funds Weigh In On MiMedx Group

Several institutional investors have recently bought and sold shares of MDXG. Isthmus Partners LLC grew its position in MiMedx Group by 30.4% during the second quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock worth $27,000 after buying an additional 91,714 shares in the last quarter. Blue Trust Inc. bought a new position in MiMedx Group in the 3rd quarter worth approximately $30,000. Point72 Asset Management L.P. bought a new position in MiMedx Group in the 2nd quarter worth approximately $40,000. Point72 DIFC Ltd raised its position in MiMedx Group by 127.6% in the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock worth $45,000 after purchasing an additional 4,275 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of MiMedx Group during the 3rd quarter valued at $64,000. 79.15% of the stock is currently owned by institutional investors.

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.