MiMedx Group

MDXG · NASDAQ

$4.23−$0.15 (−3.42%)TodayMarket closed · Oct 20, 4:10 PM ET

Prev close $4.38

MDXG analyst rating

BuyConsensus of 5 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy5
Hold0
Underperform0
Sell0

12-month price target · 7 analysts

Average $7.14 (+68.8% upside)

Low: $6.06
Now: $4.23
High: $8.40

Upgrades and downgrades

The latest rating actions, newest first

MDXG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Craig-Hallum	Aug 27, 2026	Maintains	Buy	$6.00 → $8.00	73%
Cantor Fitzgerald	Aug 17, 2026	Maintains	Overweight	$8.00	34%
Citizens	Apr 30, 2026	Maintains	Market Outperform	$7.00 → $6.00	42%
Citizens	Apr 20, 2026	Maintains	Market Outperform	$10.00 → $7.00	42%
Craig-Hallum	Apr 17, 2026	Maintains	Buy	$10.00 → $7.00	73%
Citizens	Feb 23, 2026	Initiates	Market Outperform	$10.00	42%
Cantor Fitzgerald	Feb 17, 2026	Maintains	Overweight	$12.00 → $8.00	34%
Lake Street	Jan 20, 2026	Maintains	Buy	$12.00 → $10.00	29%
Mizuho	Dec 17, 2025	Maintains	Outperform	$12.00 → $10.00	56%

The case for and against

Updated Oct 10, 2026

Bull case

MiMedx Group is viewed favorably because its core wound-care franchise rests on a decade-plus of clinical adoption, best-in-class peer-reviewed data, and an established 200+ person sales force that can benefit as patients migrate back to wound care centers and hospital outpatient clinics. The company’s growth engine remains intact through Advanced Surgical, which posted $36.4 million of 1Q26 sales and 13.2% year-over-year growth, while roughly $200 million of revenue from Advanced Surgical and international Wound Care is not affected by recent PFS and OPPS updates. Near-term disruption appears manageable given management’s expectations that 1Q26 will be the bottom, supported by $40 million in annual savings from restructuring, a $100 million buyback authorization, and signs of volume recovery late in the quarter.

Bear case

MiMedx Group is under pressure from Medicare wound reimbursement changes that took effect January 1, which have lowered pricing per cm2, slowed ordering behavior, and created new pre-authorization friction in the six WISeR states. Quarterly sales came in about 10% light and annual guidance was cut by roughly 20% at the midpoint, underscoring that the Wound Care segment is recovering only very slowly and may face a ~50% year-over-year decline in 2026. The company is also exposed to supply and concentration risks, including dependence on donated tissue, competitive 361-regulated products, and customer exposure to GPOs and IDNs that represented about 76% of 2024 revenue.

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