MiMedx Group (NASDAQ:MDXG) Hits New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

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

MiMedx Group Trading Down 0.4 %

The company has a fifty day simple moving average of $6.24 and a two-hundred day simple moving average of $6.75. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.35 billion, a PE ratio of 16.78 and a beta of 1.94.

Institutional Investors Weigh In On MiMedx Group

Several institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its holdings in shares of MiMedx Group by 299.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock valued at $6,074,000 after acquiring an additional 770,744 shares during the last quarter. Millennium Management LLC increased its stake in MiMedx Group by 339.9% in the second quarter. Millennium Management LLC now owns 889,446 shares of the company’s stock valued at $6,164,000 after purchasing an additional 687,267 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in MiMedx Group by 47.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,292,822 shares of the company’s stock worth $8,958,000 after purchasing an additional 413,443 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in MiMedx Group by 6.6% during the second quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock worth $28,879,000 after purchasing an additional 258,700 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of MiMedx Group during the 2nd quarter worth approximately $988,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.