Intrinsic value of MiMedx Group - MDXG

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$11.53

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$11.53

 
Intrinsic value

$6.01

 
Up/down potential

-48%

 
Rating

sell

 
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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MDXG stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  31.02
  34.60
  31.64
  28.98
  26.58
  24.42
  22.48
  20.73
  19.16
  17.74
  16.47
  15.32
  14.29
  13.36
  12.52
  11.77
  11.09
  10.48
  9.94
  9.44
  9.00
  8.60
  8.24
  7.91
  7.62
  7.36
  7.12
  6.91
  6.72
  6.55
  6.39
Revenue, $m
  245
  330
  434
  560
  709
  882
  1,080
  1,304
  1,554
  1,829
  2,131
  2,457
  2,808
  3,183
  3,582
  4,004
  4,448
  4,914
  5,402
  5,912
  6,444
  6,999
  7,575
  8,175
  8,798
  9,446
  10,119
  10,818
  11,545
  12,301
  13,088
Variable operating expenses, $m
 
  287
  377
  486
  615
  765
  936
  1,130
  1,346
  1,584
  1,845
  2,125
  2,429
  2,753
  3,098
  3,462
  3,847
  4,250
  4,672
  5,113
  5,573
  6,053
  6,551
  7,070
  7,609
  8,169
  8,751
  9,356
  9,985
  10,639
  11,319
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  227
  287
  377
  486
  615
  765
  936
  1,130
  1,346
  1,584
  1,845
  2,125
  2,429
  2,753
  3,098
  3,462
  3,847
  4,250
  4,672
  5,113
  5,573
  6,053
  6,551
  7,070
  7,609
  8,169
  8,751
  9,356
  9,985
  10,639
  11,319
Operating income, $m
  18
  43
  57
  74
  94
  117
  144
  174
  208
  245
  286
  332
  380
  430
  484
  541
  601
  664
  730
  799
  871
  946
  1,024
  1,105
  1,189
  1,277
  1,368
  1,462
  1,560
  1,663
  1,769
EBITDA, $m
  23
  49
  65
  84
  106
  132
  161
  195
  232
  273
  318
  367
  420
  476
  535
  598
  665
  734
  807
  883
  963
  1,046
  1,132
  1,221
  1,315
  1,411
  1,512
  1,616
  1,725
  1,838
  1,955
Interest expense (income), $m
  0
  0
  1
  2
  3
  4
  5
  6
  8
  10
  12
  14
  16
  19
  22
  25
  28
  31
  34
  38
  42
  45
  50
  54
  58
  63
  67
  72
  77
  83
  88
Earnings before tax, $m
  18
  42
  56
  72
  91
  114
  139
  168
  200
  235
  274
  318
  363
  411
  462
  517
  573
  633
  696
  761
  829
  900
  974
  1,051
  1,131
  1,214
  1,300
  1,390
  1,483
  1,580
  1,681
Tax expense, $m
  6
  11
  15
  19
  25
  31
  38
  45
  54
  64
  74
  86
  98
  111
  125
  139
  155
  171
  188
  206
  224
  243
  263
  284
  305
  328
  351
  375
  400
  427
  454
Net income, $m
  12
  31
  41
  53
  67
  83
  102
  123
  146
  172
  200
  232
  265
  300
  338
  377
  419
  462
  508
  556
  606
  657
  711
  767
  826
  886
  949
  1,015
  1,083
  1,153
  1,227

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  34
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  193
  214
  282
  363
  460
  572
  701
  846
  1,008
  1,187
  1,383
  1,594
  1,822
  2,066
  2,324
  2,598
  2,886
  3,189
  3,506
  3,837
  4,182
  4,542
  4,916
  5,305
  5,709
  6,130
  6,566
  7,020
  7,492
  7,983
  8,493
Adjusted assets (=assets-cash), $m
  159
  214
  282
  363
  460
  572
  701
  846
  1,008
  1,187
  1,383
  1,594
  1,822
  2,066
  2,324
  2,598
  2,886
  3,189
  3,506
  3,837
  4,182
  4,542
  4,916
  5,305
  5,709
  6,130
  6,566
  7,020
  7,492
  7,983
  8,493
Revenue / Adjusted assets
  1.541
  1.542
  1.539
  1.543
  1.541
  1.542
  1.541
  1.541
  1.542
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
  1.541
Average production assets, $m
  28
  38
  49
  64
  81
  101
  123
  149
  177
  209
  243
  280
  320
  363
  408
  456
  507
  560
  616
  674
  735
  798
  864
  932
  1,003
  1,077
  1,154
  1,233
  1,316
  1,402
  1,492
Working capital, $m
  76
  69
  90
  116
  147
  183
  225
  271
  323
  380
  443
  511
  584
  662
  745
  833
  925
  1,022
  1,124
  1,230
  1,340
  1,456
  1,576
  1,700
  1,830
  1,965
  2,105
  2,250
  2,401
  2,559
  2,722
Total debt, $m
  17
  26
  47
  74
  105
  141
  182
  229
  281
  338
  401
  469
  542
  620
  703
  791
  883
  981
  1,082
  1,189
  1,299
  1,415
  1,535
  1,660
  1,790
  1,925
  2,065
  2,210
  2,362
  2,519
  2,683
Total liabilities, $m
  60
  69
  90
  117
  148
  184
  225
  272
  324
  381
  444
  512
  585
  663
  746
  834
  926
  1,024
  1,125
  1,232
  1,342
  1,458
  1,578
  1,703
  1,833
  1,968
  2,108
  2,253
  2,405
  2,562
  2,726
Total equity, $m
  133
  145
  191
  247
  312
  389
  476
  575
  685
  806
  939
  1,083
  1,237
  1,403
  1,578
  1,764
  1,960
  2,165
  2,380
  2,605
  2,840
  3,084
  3,338
  3,602
  3,877
  4,162
  4,458
  4,767
  5,087
  5,420
  5,767
Total liabilities and equity, $m
  193
  214
  281
  364
  460
  573
  701
  847
  1,009
  1,187
  1,383
  1,595
  1,822
  2,066
  2,324
  2,598
  2,886
  3,189
  3,505
  3,837
  4,182
  4,542
  4,916
  5,305
  5,710
  6,130
  6,566
  7,020
  7,492
  7,982
  8,493
Debt-to-equity ratio
  0.128
  0.180
  0.250
  0.300
  0.340
  0.360
  0.380
  0.400
  0.410
  0.420
  0.430
  0.430
  0.440
  0.440
  0.450
  0.450
  0.450
  0.450
  0.450
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.470
Adjusted equity ratio
  0.623
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679
  0.679

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  12
  31
  41
  53
  67
  83
  102
  123
  146
  172
  200
  232
  265
  300
  338
  377
  419
  462
  508
  556
  606
  657
  711
  767
  826
  886
  949
  1,015
  1,083
  1,153
  1,227
Depreciation, amort., depletion, $m
  5
  7
  8
  10
  12
  15
  17
  21
  24
  28
  32
  35
  40
  45
  51
  57
  63
  70
  77
  84
  92
  100
  108
  116
  125
  135
  144
  154
  165
  175
  187
Funds from operations, $m
  15
  38
  49
  63
  79
  97
  119
  143
  170
  200
  232
  267
  305
  346
  389
  434
  482
  532
  585
  640
  697
  757
  819
  884
  951
  1,021
  1,093
  1,169
  1,247
  1,329
  1,413
Change in working capital, $m
  -11
  18
  22
  26
  31
  36
  41
  47
  52
  57
  63
  68
  73
  78
  83
  88
  92
  97
  102
  106
  111
  115
  120
  125
  130
  135
  140
  145
  151
  157
  164
Cash from operations, $m
  26
  28
  27
  36
  48
  61
  78
  97
  118
  143
  170
  199
  232
  268
  306
  346
  390
  435
  483
  534
  587
  642
  699
  759
  821
  886
  953
  1,023
  1,096
  1,171
  1,250
Maintenance CAPEX, $m
  0
  -4
  -5
  -6
  -8
  -10
  -13
  -15
  -19
  -22
  -26
  -30
  -35
  -40
  -45
  -51
  -57
  -63
  -70
  -77
  -84
  -92
  -100
  -108
  -116
  -125
  -135
  -144
  -154
  -165
  -175
New CAPEX, $m
  -6
  -10
  -12
  -14
  -17
  -20
  -23
  -26
  -28
  -31
  -34
  -37
  -40
  -43
  -45
  -48
  -51
  -53
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -90
Cash from investing activities, $m
  -12
  -14
  -17
  -20
  -25
  -30
  -36
  -41
  -47
  -53
  -60
  -67
  -75
  -83
  -90
  -99
  -108
  -116
  -126
  -135
  -145
  -155
  -166
  -176
  -187
  -199
  -212
  -224
  -237
  -251
  -265
Free cash flow, $m
  14
  15
  11
  16
  23
  32
  43
  56
  71
  89
  109
  132
  157
  185
  215
  247
  282
  319
  358
  399
  442
  487
  534
  583
  634
  687
  742
  799
  859
  921
  985
Issuance/(repayment) of debt, $m
  0
  18
  22
  26
  31
  36
  41
  47
  52
  57
  63
  68
  73
  78
  83
  88
  93
  97
  102
  106
  111
  115
  120
  125
  130
  135
  140
  146
  151
  158
  164
Issuance/(repurchase) of shares, $m
  -8
  0
  14
  13
  12
  9
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -8
  18
  36
  39
  43
  45
  45
  47
  52
  57
  63
  68
  73
  78
  83
  88
  93
  97
  102
  106
  111
  115
  120
  125
  130
  135
  140
  146
  151
  158
  164
Total cash flow (excl. dividends), $m
  6
  33
  32
  42
  54
  68
  84
  102
  123
  146
  172
  200
  230
  263
  298
  335
  374
  416
  459
  505
  553
  602
  654
  708
  764
  822
  882
  945
  1,010
  1,078
  1,149
Retained Cash Flow (-), $m
  -25
  -37
  -46
  -55
  -66
  -76
  -87
  -99
  -110
  -121
  -133
  -144
  -155
  -165
  -176
  -186
  -196
  -205
  -215
  -225
  -234
  -244
  -254
  -264
  -275
  -285
  -297
  -308
  -320
  -333
  -347
Prev. year cash balance distribution, $m
 
  25
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  20
  0
  0
  0
  0
  0
  4
  13
  25
  39
  56
  75
  98
  122
  149
  179
  210
  244
  280
  318
  358
  400
  444
  489
  537
  586
  637
  690
  745
  802
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  19
  0
  0
  0
  0
  0
  2
  8
  14
  21
  27
  32
  37
  41
  44
  45
  46
  45
  43
  40
  37
  33
  29
  25
  21
  17
  14
  11
  8
  6
Current shareholders' claim on cash, %
  100
  100.0
  99.0
  98.3
  97.8
  97.5
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4
  97.4

MiMedx Group, Inc. develops, processes, and markets patent protected and proprietary regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues, and human skin and bone. Its biomaterial product families include dHACM family with AmnioFix and EpiFix brands; Amniotic Fluid family with OrthoFlo brand; Umbilical family with EpiCord and AmnioCord brands; Placental Collagen family with CollaFix brands; Bone family with Physio brand; and Skin family with AlloBurn brand. The company’s AmnioFix, EpiFix, and EpiBurn are tissue technologies processed from human amniotic membrane; OrthoFlo is an amniotic fluid derived allograft; EpiCord and AmnioCord are derived from the umbilical cord; Physio is a unique bone grafting material comprised of 100% bone tissue with no added carrier; and AlloBurn is a skin product derived from human skin designed for the treatment of burns. It also focuses on commercializing CollaFix, a collagen fiber technology developed with its patented cross-linking polymers to mimic the natural composition, structure, and mechanical properties of musculoskeletal tissues in order to augment their repair. The company processes the human amniotic membrane utilizing its proprietary PURION process to produce a safe and effective implant. MiMedx supplies amniotic tissue for application in the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors. Its proprietary processing methodology employs aseptic processing techniques in addition to terminal sterilization. The company sells its products through direct sales force, and independent stocking distributors, and third party representatives in the United States, as well as independent distributors internationally. The company is headquartered in Marietta, Georgia.

FINANCIAL RATIOS  of  MiMedx Group (MDXG)

Valuation Ratios
P/E Ratio 105.6
Price to Sales 5.2
Price to Book 9.5
Price to Tangible Book
Price to Cash Flow 48.7
Price to Free Cash Flow 63.3
Growth Rates
Sales Growth Rate 31%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 24.6%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity 6%
Total Debt to Equity 12.8%
Interest Coverage 0
Management Effectiveness
Return On Assets 7.3%
Ret/ On Assets - 3 Yr. Avg. 12.4%
Return On Total Capital 9.3%
Ret/ On T. Cap. - 3 Yr. Avg. 15.4%
Return On Equity 10%
Return On Equity - 3 Yr. Avg. 15.6%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 86.9%
Gross Margin - 3 Yr. Avg. 88.7%
EBITDA Margin 9.4%
EBITDA Margin - 3 Yr. Avg. 10.5%
Operating Margin 7.3%
Oper. Margin - 3 Yr. Avg. 8.7%
Pre-Tax Margin 7.3%
Pre-Tax Margin - 3 Yr. Avg. 8.7%
Net Profit Margin 4.9%
Net Profit Margin - 3 Yr. Avg. 8.5%
Effective Tax Rate 33.3%
Eff/ Tax Rate - 3 Yr. Avg. 8.9%
Payout Ratio 0%

MDXG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MDXG stock intrinsic value calculation we used $245 million for the last fiscal year's total revenue generated by MiMedx Group. The default revenue input number comes from 2016 income statement of MiMedx Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MDXG stock valuation model: a) initial revenue growth rate of 34.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MDXG is calculated based on our internal credit rating of MiMedx Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of MiMedx Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MDXG stock the variable cost ratio is equal to 87.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MDXG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for MiMedx Group.

Corporate tax rate of 27% is the nominal tax rate for MiMedx Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MDXG stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MDXG are equal to 11.4%.

Life of production assets of 8 years is the average useful life of capital assets used in MiMedx Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MDXG is equal to 20.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $133 million for MiMedx Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 110.187 million for MiMedx Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of MiMedx Group at the current share price and the inputted number of shares is $1.3 billion.


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COMPANY NEWS

▶ 4 Stocks With Strong Technical Momentum   [Apr-21-17 08:40AM  Benzinga]
▶ ETFs with exposure to MiMedx Group, Inc. : April 17, 2017   [Apr-17-17 12:58PM  Capital Cube]
▶ ETFs with exposure to MiMedx Group, Inc. : April 5, 2017   [Apr-05-17 05:05PM  Capital Cube]
▶ MiMedx Announces 2016 Record Results   [07:30AM  PR Newswire]
▶ MiMedx Announces Release Date for 2016 Full Year Results   [Feb-16-17 05:04PM  PR Newswire]
▶ MiMedx EpiFix Receives Coverage From Aetna   [Dec-27-16 04:02PM  PR Newswire]
▶ MiMedx Comments on Meritless Lawsuit   [Dec-15-16 04:01PM  PR Newswire]
▶ Is MiMedx Group Inc (MDXG) A Good Stock To Buy?   [Dec-14-16 06:00PM  at Insider Monkey]
▶ MiMedx Is Grand Sponsor Of Desert Foot 2016   [Oct-18-16 10:03AM  PR Newswire]
▶ MiMedx Reaffirms Q3 and Full Year 2016 Guidance   [Sep-06-16 08:30AM  PR Newswire]
▶ MiMedx Announces Nationwide Launch of AmnioFill   [Sep-01-16 04:13PM  PR Newswire]
▶ MiMedx Provides Update On Key Clinical Trials   [Aug-30-16 06:10PM  PR Newswire]
▶ MiMedx Adds New Executive   [Jul-07-16 08:30AM  PR Newswire]
Stock chart of MDXG Financial statements of MDXG
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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