MiMedx Group (NASDAQ:MDXG) Hits New 12-Month High – Here’s Why

MiMedx Group, Inc. (NASDAQ:MDXG) shares hit a new 52-week high during 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded 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 MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $12.00.

MiMedx Group Stock Performance

The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 17.40 and a beta of 1.98. 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 50-day moving average of $7.35 and a 200 day moving average of $6.96.

Institutional Investors Weigh In On MiMedx Group

Several institutional investors have recently modified their holdings of MDXG. Paradigm Capital Management Inc. NY grew its holdings in MiMedx Group by 6.6% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock worth $28,879,000 after acquiring an additional 258,700 shares during the period. Geode Capital Management LLC boosted its position in shares of MiMedx Group by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,794,358 shares of the company’s stock worth $16,518,000 after purchasing an additional 44,254 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in MiMedx Group by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,435,397 shares of the company’s stock valued at $8,483,000 after purchasing an additional 92,726 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in MiMedx Group by 47.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,292,822 shares of the company’s stock valued at $8,958,000 after purchasing an additional 413,443 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings 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 during the last quarter. Institutional investors and hedge funds 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.