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

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) 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 traded. The stock had previously closed at $9.23.

Analysts Set New Price Targets

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

MiMedx Group Stock Performance

The company has a market cap of $1.39 billion, a price-to-earnings ratio of 17.15 and a beta of 1.94. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10. The firm has a 50-day simple moving average of $6.79 and a 200 day simple moving average of $6.88.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Isthmus Partners LLC increased its holdings in shares of 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 purchasing an additional 91,714 shares during the period. Blue Trust Inc. acquired a new position in shares of MiMedx Group in the third quarter valued at approximately $30,000. Point72 Asset Management L.P. acquired a new position in shares of MiMedx Group in the second quarter valued at approximately $40,000. Point72 DIFC Ltd increased its holdings in shares of MiMedx Group by 127.6% in the third quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock valued at $45,000 after purchasing an additional 4,275 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of MiMedx Group in the third quarter valued at approximately $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.