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

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

Wall Street Analyst Weigh In

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

MiMedx Group Stock Performance

The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 17.15 and a beta of 1.94. 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 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $6.88.

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% in the 2nd quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock valued at $27,000 after acquiring an additional 91,714 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of MiMedx Group in the 3rd quarter valued at about $30,000. Point72 Asset Management L.P. purchased a new position in shares of MiMedx Group in the 2nd quarter valued at about $40,000. Point72 DIFC Ltd boosted its stake in shares of MiMedx Group by 127.6% in the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after buying an additional 4,275 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of MiMedx Group in the 3rd quarter valued at about $64,000. 79.15% of the stock is owned by institutional investors and hedge funds.

About MiMedx Group

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.