MiMedx Group (NASDAQ:MDXG) Hits New 12-Month High – Still a Buy?

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) reached a new 52-week high during mid-day trading 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.

Analyst Upgrades and Downgrades

MDXG has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of MiMedx Group in a research note on Thursday, August 1st. Craig Hallum lowered their price target on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $12.00.

MiMedx Group Stock Up 0.5 %

The firm has a market capitalization of $1.36 billion, a P/E ratio of 16.87 and a beta of 1.94. 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 fifty day moving average of $6.30 and a 200 day moving average of $6.77.

Hedge Funds Weigh In On MiMedx Group

Several institutional investors have recently added to or reduced their stakes in the stock. Isthmus Partners LLC grew its position in shares of MiMedx Group by 30.4% during 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 during the period. Headlands Technologies LLC bought a new position in MiMedx Group during the first quarter valued at $27,000. Blue Trust Inc. purchased a new stake in MiMedx Group in the third quarter worth $30,000. Point72 Asset Management L.P. purchased a new stake in MiMedx Group in the second quarter worth $40,000. Finally, Point72 DIFC Ltd raised its stake 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 buying an additional 4,275 shares during the period. Institutional investors 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.