MiMedx Group (NASDAQ:MDXG) Sees Unusually-High Trading Volume – Still a Buy?

MiMedx Group, Inc. (NASDAQ:MDXG) saw an uptick in trading volume on Monday . 852,040 shares traded hands during trading, an increase of 15% from the previous session’s volume of 743,069 shares.The stock last traded at $9.48 and had previously closed at $9.28.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MDXG shares. StockNews.com lowered shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of MiMedx Group in a research note on Thursday, August 1st. Finally, Craig Hallum lowered their price objective on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Price Performance

The company has a market cap of $1.34 billion, a PE ratio of 16.62 and a beta of 1.94. The firm has a 50 day moving average of $6.30 and a two-hundred day moving average of $6.77. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On MiMedx Group

Several institutional investors have recently modified their holdings of MDXG. Caxton Associates LP bought a new position in shares of MiMedx Group during the 1st quarter valued at $1,018,000. Victory Capital Management Inc. lifted its holdings in MiMedx Group by 909.0% in the second quarter. Victory Capital Management Inc. now owns 138,449 shares of the company’s stock valued at $959,000 after acquiring an additional 124,727 shares during the period. Farther Finance Advisors LLC grew its stake in shares of MiMedx Group by 88.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 24,599 shares of the company’s stock valued at $145,000 after purchasing an additional 11,557 shares during the period. Isthmus Partners LLC lifted its stake in shares of MiMedx Group by 30.4% in the 2nd quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock worth $27,000 after purchasing an additional 91,714 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of MiMedx Group by 299.9% in the third quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock worth $6,074,000 after buying an additional 770,744 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other 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.