Mimedx Group Inc (NASDAQ: MDXG) stock jumped 5.37% on Friday to $7.06 against a previous-day closing price of $6.70. With 0.69 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.61 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $7.12 whereas the lowest price it dropped to was $6.77. The 52-week range on MDXG shows that it touched its highest point at $8.60 and its lowest point at $2.43 during that stretch. It currently has a 1-year price target of $11.65. Beta for the stock currently stands at 1.60.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MDXG was up-trending over the past week, with a rise of 18.86%, but this was up by 15.93% over a month. Three-month performance dropped to -4.47% while six-month performance rose 22.36%. The stock gained 118.58% in the past year, while it has gained 153.96% so far this year. A look at the trailing 12-month EPS for MDXG yields -0.02 with Next year EPS estimates of 0.32. For the next quarter, that number is 0.07. This implies an EPS growth rate of 131.52% for this year and 209.62% for next year.
Float and Shares Shorts:
At present, 113.71 million MDXG shares are outstanding with a float of 110.40 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.68 million, which was 4.02% higher than short shares on Sep 28, 2023. In addition to MDXG as the firm’s MiMedx Group, Inc, MDXH serves as its MDxHealth SA.
Institutional Ownership:
Other institutions hold 35.13% of MDXG, in contrast to 28.33% held by mutual funds. Shares owned by individuals account for 20.26%. As the largest shareholder in MDXG with 6.60% of the stake, BlackRock Fund Advisors holds 7,662,048 shares worth 7,662,048. A second-largest stockholder of MDXG, Prescience Investment Group LLC, holds 7,602,577 shares, controlling over 6.55% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MDXG, holding 6,254,468 shares or 5.39% stake. With a 2.90% stake in MDXG, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,362,582 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.30% of MDXG stock, is the second-largest Mutual Fund holder. It holds 2,666,737 shares valued at 17.49 million. SPDR S&P Biotech ETF holds 1.68% of the stake in MDXG, owning 1,946,062 shares worth 12.77 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MDXG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MDXG analysts setting a high price target of $12.00 and a low target of $11.00, the average target price over the next 12 months is $11.65. Based on these targets, MDXG could surge 69.97% to reach the target high and rise by 55.81% to reach the target low. Reaching the average price target will result in a growth of 65.01% from current levels.
Summary of Insider Activity:
Insiders traded MDXG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 1,372,449 while 208,320 shares were sold.
