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MiMedx Group
(NASDAQ:MDXG)
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Rating:53Neutral
Price Target:
$4.00
▼(-7.83% Downside)
Action:Reiterated
Date:10/29/26
MDXG scores in the low-to-mid range primarily due to weakened TTM fundamentals (revenue decline and a swing back to losses) despite a strong, debt-free balance sheet and still-positive cash flow. Technicals are also a meaningful drag, with the stock trading below key moving averages and negative momentum indicators. The latest earnings call provides some stabilization signals (sequential margin and EBITDA improvement and reaffirmed/updated sales outlook), but significant year-over-year declines and ongoing Wound Care uncertainty keep the overall score constrained.
Positive Factors
Debt-free balance sheet and liquidity
The debt-free position and substantial net cash provide MiMedx with financial flexibility as it navigates reimbursement pressure and funds product development. Limited leverage reduces interest burden and refinancing exposure, while liquidity can support operations, regulatory work, and strategic investments.
Negative Factors
Wound Care reimbursement and demand pressure
Wound Care remains a major structural headwind because reimbursement reductions are pressuring both pricing and utilization across the industry. Management also cannot yet identify a stable volume or pricing base, limiting visibility into when this business can recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet and liquidity
The debt-free position and substantial net cash provide MiMedx with financial flexibility as it navigates reimbursement pressure and funds product development. Limited leverage reduces interest burden and refinancing exposure, while liquidity can support operations, regulatory work, and strategic investments.
Read all positive factors
MiMedx Group (MDXG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$575.75M
Dividend YieldN/A
Average Volume (3M)1.34M
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth-2.36%
EPS Growth-80.69%
CountryUS
Employees808
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.13
Shares Outstanding145,760,470
10 Day Avg. Volume1,753,384
30 Day Avg. Volume1,342,628
Financial Highlights & Ratios
PEG Ratio1.49
Price to Book (P/B)3.90
Price to Sales (P/S)2.39
P/FCF Ratio13.71
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue1.84
Enterprise Value/Gross Profit2.38
Enterprise Value/Ebitda-33.01
Forecast
1Y Price Target
$7.25Price Target Upside67.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.08
Revenue Forecast (FY)$266.99M
MiMedx Group Business Overview & Revenue Model
Company Description
MiMedx Group, Inc. specializes in creating and supplying allografts derived from placental tissue, serving a diverse range of medical fields. The company employs its unique, patented PURION process to treat human placental tissues, a method crucia...
How the Company Makes Money
MiMedx makes money primarily by selling its biologic wound-care and surgical allograft products to U.S. healthcare customers. The core revenue stream is product revenue generated when clinics, hospitals, physician offices, and other care sites pur...
MiMedx Group Earnings Call Summary
Earnings Call Date:Oct 28, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Mar 03, 2027
Earnings Call Sentiment Neutral
The call presented a mixed outlook. Surgical delivered solid growth, margins improved sequentially, the company returned to positive adjusted EBITDA and cash flow, and management highlighted favorable AXIOFILL and patent developments as well as the strategic potential of the Sanara acquisition. However, total revenue, Wound Care revenue, gross profit, adjusted EBITDA and earnings declined sharply year-over-year, while the Wound Care reimbursement reset remains difficult to predict and the Sanara transaction faces an FTC-related delay. The positive operational progress and strategic positioning were balanced by significant current-period financial declines and execution uncertainty.Positive Updates
Surgical Revenue and Volume Growth
Third-quarter Surgical net sales increased 9% year-over-year to $40 million and 2% sequentially, while Surgical product volume grew in the mid-teens. Growth was broad-based across the portfolio, including AMNIOFIX, AMNIOEFFECT, particulate products and recently launched G4Derm Plus.
Negative Updates
Total Net Sales Decline
Third-quarter net sales were $62 million, down 45% from the prior-year period.
Read all updates
Q3-2026 Updates
Positive
Negative
Surgical Revenue and Volume Growth
Third-quarter Surgical net sales increased 9% year-over-year to $40 million and 2% sequentially, while Surgical product volume grew in the mid-teens. Growth was broad-based across the portfolio, including AMNIOFIX, AMNIOEFFECT, particulate products and recently launched G4Derm Plus.
Read all positive updates
Company Guidance
Management updated stand-alone 2026 guidance to full year net sales of $250 million to $260 million, expects high single-digit year-over-year growth in Surgical and mid-single-digit sequential growth in Wound to finish the year, fourth quarter gross margin to approximate the Q3 level, sales and marketing expense of 58% to 60% of net sales, GAAP G&A expense of approximately $18 million to $19 million, R&D expense of approximately $3 million to $3.5 million, modest sequential growth of adjusted EBITDA in the fourth quarter, and adjusted EBITDA to improve sequentially in the fourth quarter; the long-term non-GAAP effective tax rate is expected to be approximately 25%. For the combined company, management expects run rate revenue close to $400 million with double-digit growth, more than $20 million or at least $20 million of annualized cost synergies, an annual adjusted EBITDA margin of more than 20% or at least 20%, strong free cash flow, and net leverage below 3x by the end of the first full year after closing; management also anticipates at least one 510(k) clearance before year-end.MiMedx Group Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
72
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 303.73M | 418.63M | 348.88M | 321.48M | 267.84M | 242.02M |
| Gross Profit | 234.75M | 345.62M | 288.81M | 266.84M | 219.53M | 202.39M |
| EBITDA | -16.93M | 82.93M | 65.35M | 40.52M | -10.69M | -1.89M |
| Net Income | -19.19M | 48.58M | 42.42M | 67.44M | -30.20M | -12.30M |
Balance Sheet | ||||||
| Total Assets | 264.55M | 342.65M | 263.92M | 239.05M | 171.43M | 187.93M |
| Cash, Cash Equivalents and Short-Term Investments | 120.79M | 166.12M | 104.42M | 82.00M | 65.95M | 87.08M |
| Total Debt | 0.00 | 22.53M | 24.84M | 48.10M | 52.47M | 53.29M |
| Total Liabilities | 53.47M | 86.11M | 70.81M | 96.33M | 96.92M | 95.35M |
| Stockholders Equity | 211.08M | 256.55M | 193.11M | 142.72M | 74.51M | 92.58M |
Cash Flow | ||||||
| Free Cash Flow | 20.36M | 72.97M | 64.52M | 24.79M | -19.41M | -5.20M |
| Operating Cash Flow | 20.74M | 74.00M | 66.20M | 26.77M | -17.89M | -1.98M |
| Investing Cash Flow | -6.80M | -6.89M | -9.58M | -2.15M | -2.66M | -3.40M |
| Financing Cash Flow | -35.23M | -5.41M | -34.20M | -8.57M | -580.00K | -3.35M |
MiMedx Group Technical Analysis
Negative
4.34
Price Trends
4.50
Negative
4.28
Negative
4.29
Negative
Market Momentum
-0.19
Positive
34.38
Neutral
20.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDXG, the sentiment is Negative. The current price of 4.34 is below the 20-day moving average (MA) of 4.38, below the 50-day MA of 4.50, and above the 200-day MA of 4.29, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 34.38 is Neutral, neither overbought nor oversold. The STOCH value of 20.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MDXG.
MiMedx Group Risk Analysis
MiMedx Group disclosed 42 risk factors in its most recent earnings report. MiMedx Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MiMedx Group Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $575.75M | -30.38 | -8.29% | ― | -2.36% | -80.69% | |
52 Neutral | $339.52M | -38.16 | -280.41% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $263.02M | -7.42 | -71.14% | ― | 19.87% | 23.17% | |
47 Neutral | $260.19M | -4.01 | -41.69% | ― | 6280.00% | -212.54% | |
45 Neutral | $362.21M | -2.54 | -56.60% | ― | -100.00% | -49.28% | |
41 Neutral | $787.32M | -3.46 | -134.49% | ― | ― | 28.46% |
* Healthcare Sector Average
MDXG
MiMedx Group
3.95
-3.24
-45.06%
LCTX
Lineage Therap
1.04
-0.67
-39.18%
CAPR
Capricor Therapeutics
6.23
-0.69
-9.97%
ABEO
Abeona Therapeutics
4.55
-0.44
-8.82%
SANA
Sana Biotechnology
2.63
-2.74
-51.02%
TTRX
Turn Therapeutics Inc
11.12
5.87
111.81%
MiMedx Group Corporate Events
M&A TransactionsRegulatory Filings and Compliance
MiMedx Group merger delayed amid extended FTC review
Negative
Oct 16, 2026
MiMedx Group, Inc. and Texas-based Sanara MedTech Inc. are pursuing a merger under which Sanara will become a wholly owned subsidiary of MiMedx through the combination with Mustang Merger Sub, Inc. On October 15, 2026, both companies received a Se...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
MiMedx Group to Acquire Sanara MedTech in Merger
Positive
Jul 29, 2026
On July 29, 2026, MiMedx agreed to acquire Sanara MedTech in a cash-and-stock merger valuing Sanara at $35 per share and about $350 million in enterprise value, a 46% premium to its recent trading levels. Sanara shareholders will receive $33 in ca...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.