MiMedx Group (NASDAQ:MDXG) Sees Large Volume Increase – Time to Buy?

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) saw an uptick in trading volume on Monday . 852,040 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

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

MiMedx Group Stock Performance

The company’s 50-day moving average is $6.30 and its two-hundred day moving average is $6.77. The company has a market cap of $1.34 billion, a P/E ratio of 16.62 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.

Hedge Funds Weigh In On MiMedx Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caxton Associates LP bought a new position in MiMedx Group in the 1st quarter worth approximately $1,018,000. Victory Capital Management Inc. lifted its holdings in shares of MiMedx Group by 909.0% in the second quarter. Victory Capital Management Inc. now owns 138,449 shares of the company’s stock worth $959,000 after buying an additional 124,727 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in MiMedx Group by 88.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 24,599 shares of the company’s stock worth $145,000 after purchasing an additional 11,557 shares in the last quarter. Isthmus Partners LLC raised its position 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 worth $27,000 after buying an additional 91,714 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in MiMedx Group by 299.9% during the third quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock worth $6,074,000 after buying an additional 770,744 shares in the last quarter. 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.