MiMedx Group Receives a Buy from Needham

By George MacDonald

Needham analyst Michael Matson maintained a Buy rating on MiMedx Group (NASDAQ: MDXG) on December 17 and set a price target of $13. The company’s shares closed last Friday at $9.54.

Currently, the analyst consensus on MiMedx Group is Strong Buy and the average price target is $12, representing a 25.8% upside. In a report issued on December 17, Brean Capital also reiterated a Buy rating on the stock with a $12 price target.

MiMedx Group`s market cap is currently $971.9M and has a P/E ratio of 54.7. The company has a book value ratio of 10.34%.

Like Needham`s latest rating, based on the recent corporate insider activity of 27 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, Charles Robert Evans, a a Director at MDXG bought 10,000 shares for a total of $78,300.

According to TipRanks.com, Matson is a 1-star analyst with an average return of -1.0% and a 50.7% success rate. Matson covers the healthcare sector, focusing on stocks such as Boston Scientific Corp., Cardiovascular Systems, and Zimmer Biomet Holdings.

MiMedx Group Inc is a developer, manufacturer and marketer of patent-protected regenerative biomaterial products and bioimplants processed from human amniotic membrane.