MiMedx Group, Inc. (NASDAQ:MDXG) Given Average Recommendation of “Buy” by Brokerages

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) have been assigned an average recommendation of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $12.00.

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

Hedge Funds Weigh In On MiMedx Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its position in shares of 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 acquiring an additional 770,744 shares during the period. Millennium Management LLC increased its holdings in MiMedx Group by 339.9% during the 2nd quarter. Millennium Management LLC now owns 889,446 shares of the company’s stock worth $6,164,000 after purchasing an additional 687,267 shares during the period. Dimensional Fund Advisors LP increased its holdings in MiMedx Group by 47.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,822 shares of the company’s stock worth $8,958,000 after purchasing an additional 413,443 shares during the period. Paradigm Capital Management Inc. NY raised its position in MiMedx Group by 6.6% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 4,167,200 shares of the company’s stock valued at $28,879,000 after purchasing an additional 258,700 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of MiMedx Group by 265.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 297,367 shares of the company’s stock valued at $1,757,000 after buying an additional 215,995 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

MiMedx Group Stock Performance

Shares of MDXG stock opened at $8.80 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.53 and a current ratio of 4.10. The firm has a market cap of $1.29 billion, a P/E ratio of 16.00 and a beta of 1.96. The firm’s 50 day moving average price is $8.85 and its 200-day moving average price is $7.29. MiMedx Group has a one year low of $5.47 and a one year high of $10.14.

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.