MiMedx Group (NASDAQ:MDXG) Sets New 1-Year High – Should You Buy?

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

Analyst Upgrades and Downgrades

MDXG has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of MiMedx Group in a report on Thursday, August 1st. StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Craig Hallum lowered their price target on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $12.00.

MiMedx Group Price Performance

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 stock has a market cap of $1.39 billion, a price-to-earnings ratio of 16.78 and a beta of 1.94. The business’s 50-day simple moving average is $6.72 and its two-hundred day simple moving average is $6.86.

Institutional Trading of MiMedx Group

Hedge funds have recently added to or reduced their stakes in the stock. Isthmus Partners LLC boosted its position in MiMedx Group by 30.4% in the second quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock valued at $27,000 after buying an additional 91,714 shares in the last quarter. Blue Trust Inc. acquired a new stake in MiMedx Group in the third quarter valued at approximately $30,000. Point72 Asset Management L.P. acquired a new stake in MiMedx Group in the second quarter valued at approximately $40,000. Point72 DIFC Ltd raised its stake in shares of MiMedx Group by 127.6% during the third quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after acquiring an additional 4,275 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of MiMedx Group during the third quarter valued at $64,000. Institutional investors and hedge funds 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.