Needham Thinks MiMedx Group’s Stock is Going to Recover

By George MacDonald

Needham analyst Michael Matson reiterated a Buy rating on MiMedx Group (NASDAQ: MDXG) today and set a price target of $12. The company’s shares opened today at $7.66, close to its 52-week low of $6.71.

MiMedx Group has an analyst consensus of Moderate Buy.

Based on MiMedx Group`s latest earnings report from December 31, the company posted quarterly revenue of $51.84M and quarterly net profit of $13.38M. In comparison, last year the company earned revenue of $40.77M and had a net profit of $4.09M.

Unlike Needham`s latest rating, based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is neutral on the stock. Most recently, in November 2015, 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 -1.4% and a 54.7% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp., Cardiovascular Systems, and Zimmer Biomet Holdings.

MiMedx Group, Inc. developes, manufactures and markets patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. Its biomaterial platform technologies include AmnioFix and EpiFix, its tissue technologies processed from human amniotic membrane that is derived from donated placentas. The company was founded on July 30, 1985 and is headquartered in Marietta, GA.