MiMedx Group (NASDAQ:MDXG) Shares Gap Up – Should You Buy?

MiMedx Group, Inc. (NASDAQ:MDXG) gapped up before the market opened on Thursday . The stock had previously closed at $7.47, but opened at $7.99. MiMedx Group shares last traded at $7.94, with a volume of 490,578 shares changing hands.

Wall Street Analysts Forecast Growth

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

MiMedx Group Stock Up 0.5 %

The stock has a 50-day moving average price of $6.30 and a 200-day moving average price of $6.77. 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 company has a market capitalization of $1.36 billion, a P/E ratio of 16.87 and a beta of 1.94.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MDXG. ProShare Advisors LLC increased its position in shares of MiMedx Group by 8.5% during the first quarter. ProShare Advisors LLC now owns 20,735 shares of the company’s stock worth $160,000 after buying an additional 1,631 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in MiMedx Group by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 183,021 shares of the company’s stock worth $1,082,000 after acquiring an additional 1,822 shares during the period. Hsbc Holdings PLC raised its position in shares of MiMedx Group by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 34,343 shares of the company’s stock worth $233,000 after acquiring an additional 2,329 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of MiMedx Group by 0.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 355,387 shares of the company’s stock valued at $2,100,000 after purchasing an additional 2,737 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of MiMedx Group by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,623 shares of the company’s stock valued at $316,000 after purchasing an additional 3,222 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.