Needham & Company Downgrades MiMedx Group (MDXG) to Buy

Needham & Company downgraded MiMedx Group (NASDAQ: MDXG) from Strong Buy to Buy with a price target of $15.00 on tougher comps and valuation.

Analyst Mike Matson commented, "We are downgrading MDXG to Buy from Strong Buy given more difficult comps for the remainder of the year, our belief that upside to consensus may be more limited, and valuation. We note that we still expect MDXG to maintain growth above its small-cap growth peers and believe that its leadership position in the amniotic tissue market makes it an attractive asset. We maintain our estimates and our $15 price target."

For an analyst ratings summary and ratings history on MiMedx Group click here. For more ratings news on MiMedx Group click here.

Shares of MiMedx Group closed at $12.80 yesterday.

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