Needham & Company Upgrades MiMedx Group (MDXG) to Strong Buy

Needham & Company upgraded MiMedx Group (NASDAQ: MDXG) from Buy to Strong Buy with a price target of $13.00.

Analyst Mike Matson commented, "After hosting a series of meetings with management, we have renewed confidence that MDXG can exceed consensus 2015 estimates and we therefore upgrade MDXG to Strong Buy. We see a number of factors that should drive near-term growth, including additional insurance coverage, increased penetration of the surgical market, and sales force expansion. Additionally, the impact of the end of the Medicare pass-through should be mitigated by MDXG's new products and pricing strategy and by customers' ability to shift procedures into settings with higher reimbursement."

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 $9.38 yesterday.

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