Brokerages Set MiMedx Group, Inc. (NASDAQ:MDXG) Target Price at $12.00

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) have earned an average recommendation of “Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.00.

Separately, StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th.

MiMedx Group Price Performance

MDXG stock opened at $8.80 on Wednesday. The business has a 50 day moving average price of $8.85 and a 200 day moving average price of $7.29. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 16.00 and a beta of 1.96. MiMedx Group has a fifty-two week low of $5.47 and a fifty-two week high of $10.14.

Institutional Investors Weigh In On MiMedx Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Isthmus Partners LLC increased its stake 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 purchasing an additional 91,714 shares during the period. Blue Trust Inc. acquired a new position in MiMedx Group in the 3rd quarter valued at about $30,000. Point72 Asset Management L.P. acquired a new position in MiMedx Group in the 2nd quarter valued at about $40,000. Point72 DIFC Ltd lifted its position in MiMedx Group by 127.6% during the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock worth $45,000 after acquiring an additional 4,275 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of MiMedx Group in the 3rd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About MiMedx Group

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.