Jul. 30 at 2:37 PM
$MDXG Lake Street analyst Brooks O'Neil raised the firm's price target on MiMedx (MDXG) to
$7 from
$5 and keeps a Buy rating on the shares after the company agreed to acquire all of the outstanding shares of Sanara MedTech (SMTI) in a cash and stock transaction valued at
$35 per Sanara share. The acquisition of Sanara nearly doubles MiMedx's surgical revenue, is accretive to revenue growth, gross margins, and AEBITDA, offers cross-selling opportunity, and has greater than
$20M of expected run-rate cost-synergies, the analyst tells investors.
