MiMedx Group Gets a Hold Rating from Needham

By Austin Angelo

Needham analyst Michael Matson maintained a Hold rating on MiMedx Group (NASDAQ: MDXG) today. The company’s shares opened today at $7.24, close to its 52-week low of $6.05.

Matson noted:

“This morning (3/15/18), MDXG issued a press release announcing: 1) management expects 1Q18 revenue to exceed the high end of their guidance range and reiterates their 2018 guidance and 2) the U.S. Department of Justice (DOJ) is reviewing the SEC investigation matters. While MDXG’s business appears to be performing well despite the controversy swirling around the company, we believe investors may continue to heavily discount the fundamentals until more is known about the outcome of the Audit Committee’s investigation, the SEC investigation, and the DOJ review.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 7.7% and a 60.5% 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 $19.

MiMedx Group’s market cap is currently $807.2M and has a P/E ratio of 23.45. The company has a book value ratio of 5.6659.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MDXG in relation to earlier this year. Last month, William Charles Taylor, the President & COO of MDXG bought 20,000 shares for a total of $33,000.

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. is a biopharmaceutical company. It engages in the design, manufacture, and marketing of regenerative biomaterials products and tissue processing services for the wound care, surgical, sports medicine, ophthalmic and dental market categories.