MiMedx Group (NASDAQ:MDXG) Sees Large Volume Increase – Here’s Why

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) saw unusually-high trading volume on Monday . Approximately 852,040 shares were traded 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.

Analysts Set New Price Targets

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

MiMedx Group Price Performance

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 stock has a 50-day moving average price of $6.42 and a 200 day moving average price of $6.80. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 16.20 and a beta of 1.94.

Hedge Funds Weigh In On MiMedx Group

Several hedge funds and other institutional investors have recently made changes to their positions in MDXG. Barclays PLC increased its position in shares of MiMedx Group by 163.9% during the third quarter. Barclays PLC now owns 262,449 shares of the company’s stock worth $1,550,000 after purchasing an additional 163,005 shares in the last quarter. Orion Capital Management LLC boosted its stake in shares of MiMedx Group by 46.3% during the 3rd quarter. Orion Capital Management LLC now owns 11,700 shares of the company’s stock worth $69,000 after acquiring an additional 3,700 shares in the last quarter. Geode Capital Management LLC increased its holdings in MiMedx Group by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock valued at $16,518,000 after acquiring an additional 44,254 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of MiMedx Group by 0.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 355,387 shares of the company’s stock worth $2,100,000 after acquiring an additional 2,737 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of MiMedx Group by 133.6% during the third quarter. Jane Street Group LLC now owns 305,652 shares of the company’s stock worth $1,806,000 after buying an additional 174,797 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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.