MiMedx Group Gets a Buy from Needham

By Carrie Williams

In a report released today, Michael Matson from Needham reiterated a Buy rating on MiMedx Group (NASDAQ: MDXG), with a price target of $15. The company’s shares opened today at $9.98.

Matson noted:

“This morning, MDXG preannounced 1Q17 revenue of $72.6M (up 36% Y/Y and 4% sequentially) vs. consensus of $70.2M. We have raised our 2017 and 2018 estimates and added annual and quarterly 2019 estimates to our model.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.9% and a 67.2% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

MiMedx Group has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is neutral on the stock. Last month, Charles Koob, a Director at MDXG sold 50,486 shares for a total of $429,131.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MiMedx Group, Inc. engages in the designing, manufacturing, and marketing of regenerative biomaterials products and tissue processing services for the wound care, surgical, sports medicine, ophthalmic and dental market categories. Its allograft product families include dHACM family with AmnioFix, EpiFix and EpiBurn brands; Amniotic Fluid family with OrthoFlo brand; Umbilical family with EpiCord™ and AmnioCord brands; Placental Collagen family with CollaFix and AmnioFill brands; Bone family with Physio brand; and Skin family with AlloBurn brand. The company was founded on July 30, 1985 and is headquartered in Marietta, GA.