MiMedx Group, Inc. (NASDAQ:MDXG) Receives $12.00 Average PT 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 reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.00.

MDXG has been the topic of a number of analyst reports. StockNews.com cut shares of MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of MiMedx Group in a research note on Thursday, August 1st. Finally, Craig Hallum lowered their price target on MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, August 1st.

MiMedx Group Stock Up 23.6 %

MDXG stock opened at $9.23 on Tuesday. MiMedx Group has a 1-year low of $5.47 and a 1-year high of $9.32. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 16.33 and a beta of 1.94. The company has a current ratio of 4.10, a quick ratio of 3.53 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $6.18 and its 200 day moving average is $6.73.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in shares of MiMedx Group in the first quarter worth about $27,000. Blue Trust Inc. bought a new stake in MiMedx Group during the 3rd quarter worth approximately $30,000. Point72 Asset Management L.P. purchased a new position in MiMedx Group during the second quarter valued at approximately $40,000. Entropy Technologies LP bought a new position in shares of MiMedx Group in the third quarter worth approximately $64,000. Finally, Quest Partners LLC purchased a new position in shares of MiMedx Group during the 2nd quarter valued at $81,000. 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.