MiMedx Group (NASDAQ:MDXG) Rating Lowered to “Buy” at StockNews.com

MiMedx Group (NASDAQ:MDXG) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other equities research analysts also recently issued reports about the company. Craig Hallum reduced 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of MiMedx Group in a research note on Thursday, August 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.00.

MiMedx Group Trading Up 1.2 %

Shares of MDXG stock opened at $7.53 on Friday. MiMedx Group has a fifty-two week low of $5.47 and a fifty-two week high of $9.27. The firm’s 50 day moving average price is $6.13 and its two-hundred day moving average price is $6.71. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 13.69 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.

Hedge Funds Weigh In On MiMedx Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Isthmus Partners LLC lifted its position in shares of MiMedx Group by 30.4% during the second quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock worth $27,000 after purchasing an additional 91,714 shares during the last quarter. Headlands Technologies LLC bought a new position in MiMedx Group during the 1st quarter worth approximately $27,000. Blue Trust Inc. bought a new position in MiMedx Group during the 3rd quarter worth approximately $30,000. Point72 Asset Management L.P. acquired a new position in shares of MiMedx Group in the 2nd quarter worth approximately $40,000. Finally, Entropy Technologies LP bought a new stake in shares of MiMedx Group in the 3rd quarter valued at approximately $64,000. 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.