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

MiMedx Group, Inc. (NASDAQ:MDXG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.68 and last traded at $9.56, with a volume of 243423 shares. The stock had previously closed at $9.55.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MiMedx Group presently has an average rating of “Buy” and an average target price 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 capitalization of $1.41 billion, a P/E ratio of 17.53 and a beta of 1.98. The company’s 50 day simple moving average is $7.05 and its two-hundred day simple moving average is $6.92.

Institutional Trading of MiMedx Group

Hedge funds have recently modified their holdings of the stock. Isthmus Partners LLC grew its stake in shares of MiMedx Group by 30.4% during 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 last quarter. Blue Trust Inc. bought a new stake in shares of MiMedx Group during the third quarter valued at approximately $30,000. Point72 Asset Management L.P. bought a new stake in shares of MiMedx Group during the second quarter valued at approximately $40,000. Point72 DIFC Ltd boosted its stake in 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 acquiring an additional 4,275 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in MiMedx Group in the third quarter valued at approximately $64,000. 79.15% of the stock is owned by 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.