MiMedx Group (NASDAQ:MDXG) Shares Gap Up – Here’s Why

by · The Markets Daily

MiMedx Group, Inc. (NASDAQ:MDXG – Get Free Report) shares 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 trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDXG. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of MiMedx Group in a research report on Thursday, August 1st. Craig Hallum lowered their price target 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, StockNews.com cut 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 a consensus target price of $12.00.

Read Our Latest Research Report on MDXG

MiMedx Group Stock Performance

The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 15.11 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 50 day moving average price of $6.18 and a two-hundred day moving average price of $6.73.

Institutional Trading of MiMedx Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MDXG. Caxton Associates LP bought a new position in MiMedx Group in the first quarter valued at about $1,018,000. Victory Capital Management Inc. boosted its holdings in MiMedx Group by 909.0% in the second quarter. Victory Capital Management Inc. now owns 138,449 shares of the company’s stock valued at $959,000 after acquiring an additional 124,727 shares during the last quarter. Isthmus Partners LLC boosted its holdings in MiMedx Group by 30.4% in the second 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 last quarter. Harbor Capital Advisors Inc. boosted its holdings in MiMedx Group by 299.9% in the third quarter. Harbor Capital Advisors Inc. now owns 1,027,738 shares of the company’s stock valued at $6,074,000 after acquiring an additional 770,744 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in MiMedx Group by 13.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,978 shares of the company’s stock valued at $254,000 after acquiring an additional 3,806 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

MiMedx Group Company Profile

(Get Free Report)

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.

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