MiMedx Group, Inc. (NASDAQ:MDXG) Receives $12.00 Average Target Price from Brokerages

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) have received a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $12.00.

A number of analysts recently weighed in on MDXG shares. Craig Hallum decreased their price objective 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 lowered MiMedx Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of MiMedx Group in a research report on Thursday, August 1st.

MiMedx Group Trading Up 23.6 %

Shares of NASDAQ:MDXG opened at $9.23 on Tuesday. The stock has a market cap of $1.36 billion, a PE ratio of 16.33 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. MiMedx Group has a 12-month low of $5.47 and a 12-month high of $9.32. The business has a 50 day moving average of $6.18 and a 200-day moving average of $6.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in MiMedx Group by 8.5% in the first quarter. ProShare Advisors LLC now owns 20,735 shares of the company’s stock valued at $160,000 after acquiring an additional 1,631 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of MiMedx Group by 1.0% during the third 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 in the last quarter. Hsbc Holdings PLC grew its position in shares of MiMedx Group by 7.3% in the second quarter. Hsbc Holdings PLC now owns 34,343 shares of the company’s stock valued at $233,000 after purchasing an additional 2,329 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of MiMedx Group by 7.6% during 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. Finally, Marshall Wace LLP boosted its stake in MiMedx Group by 1.1% in the 2nd quarter. Marshall Wace LLP now owns 298,818 shares of the company’s stock worth $2,071,000 after purchasing an additional 3,223 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

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.