May. 10 at 5:26 PM
$MDXG From Seeking Alpha
Summary
MiMedx Group faces a sharp downgrade from Buy to Hold as 2026 revenue guidance drops to
$260–
$290 million from
$340–
$360 million.
Q1 2026 saw a 33% revenue decline, with wound care sales down 60% and surgical portfolio growth at 13%, reflecting permanent reimbursement headwinds.
My DCF model, updated for lower revenue and margin assumptions, now values MDXG at
$3.93 per share—just 6% above the current price, making upside limited.
Management targets breakeven in Q3 via
$40 million cost cuts, but execution risk remains high amid industry 'fire sale' conditions and uncertain wound care recovery.
