MiMedx Group (MDXG) Trading Up 6.3%

Shares of MiMedx Group, Inc. (NASDAQ:MDXG) were up 6.3% during trading on Monday . The stock traded as high as $7.48 and last traded at $7.41. Approximately 2,953,807 shares traded hands during trading, a decline of 10% from the average daily volume of 3,290,797 shares. The stock had previously closed at $6.97.

Several analysts have commented on MDXG shares. BidaskClub downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Craig Hallum reiterated a “buy” rating on shares of MiMedx Group in a research note on Tuesday, February 27th. Needham & Company LLC downgraded MiMedx Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Lake Street Capital downgraded MiMedx Group from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research note on Friday, February 23rd. Finally, ValuEngine downgraded MiMedx Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. MiMedx Group has an average rating of “Hold” and an average target price of $14.75.

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The company has a market cap of $773.91, a P/E ratio of 61.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.61.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDXG. Consonance Capital Management LP bought a new position in shares of MiMedx Group during the 4th quarter valued at $75,543,000. The Manufacturers Life Insurance Company lifted its holdings in shares of MiMedx Group by 1,647.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,405,458 shares of the medical equipment provider’s stock valued at $17,723,000 after buying an additional 1,325,048 shares during the period. Senzar Asset Management LLC bought a new position in shares of MiMedx Group during the 4th quarter valued at $9,159,000. Think Investments LP bought a new position in shares of MiMedx Group during the 4th quarter valued at $7,826,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of MiMedx Group by 868.0% during the 4th quarter. Allianz Asset Management GmbH now owns 493,749 shares of the medical equipment provider’s stock valued at $6,226,000 after buying an additional 442,744 shares during the period. 79.97% of the stock is currently owned by hedge funds and other institutional investors.

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MiMedx Group Company Profile

MiMedx Group, Inc, a biopharmaceutical company, develops and markets regenerative biologics utilizing human placental tissue allografts with patent-protected processes for various sectors of healthcare. It processes the human placental tissue utilizing its proprietary PURION Process to produce allografts.

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