MiMedx Group (NASDAQ:MDXG) Sets New 52-Week High – Here’s Why

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.88 and last traded at $9.83, with a volume of 88919 shares trading hands. The stock had previously closed at $9.57.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MiMedx Group presently has a consensus rating of “Buy” and an average price target of $12.00.

MiMedx Group Price Performance

The company has a market capitalization of $1.39 billion, a P/E ratio of 17.20 and a beta of 1.98. The business’s 50-day moving average is $7.50 and its two-hundred day moving average is $6.99. 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

Several hedge funds have recently modified their holdings of the company. SkyView Investment Advisors LLC increased its position in shares of MiMedx Group by 30.0% during the third quarter. SkyView Investment Advisors LLC now owns 13,000 shares of the company’s stock valued at $77,000 after acquiring an additional 3,000 shares during the last quarter. Barclays PLC grew its stake in MiMedx Group by 163.9% in the 3rd quarter. Barclays PLC now owns 262,449 shares of the company’s stock valued at $1,550,000 after purchasing an additional 163,005 shares during the period. Orion Capital Management LLC increased its position 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 valued at $69,000 after purchasing an additional 3,700 shares during the last quarter. Geode Capital Management LLC increased its holdings in MiMedx Group by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock worth $16,518,000 after buying an additional 44,254 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings 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 worth $2,100,000 after purchasing an additional 2,737 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.