BTIG Research Has Lowered Expectations for MDxHealth (NASDAQ:MDXH) Stock Price

MDxHealth (NASDAQ:MDXH) had its price objective dropped by investment analysts at BTIG Research from $4.00 to $2.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 177.78% from the stock’s previous close.

Several other brokerages have also recently commented on MDXH. Lake Street Capital set a $3.00 target price on shares of MDxHealth and gave the stock a “buy” rating in a report on Friday, August 14th. William Blair downgraded shares of MDxHealth from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded MDxHealth to a “sell” rating in a research report on Saturday, August 15th. Finally, TD Cowen reissued a “buy” rating and set a $1.50 target price (down from $7.00) on shares of MDxHealth in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MDxHealth presently has an average rating of “Hold” and a consensus target price of $2.17.

MDxHealth Price Performance

Shares of MDXH opened at $0.72 on Friday. MDxHealth has a one year low of $0.40 and a one year high of $5.33. The company has a market cap of $35.64 million, a PE ratio of -1.00 and a beta of 1.42. The firm has a 50-day moving average of $0.49 and a 200-day moving average of $1.69.

MDxHealth (NASDAQ:MDXH) last issued its earnings results on Friday, August 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01. The business had revenue of $27.21 million for the quarter, compared to the consensus estimate of $26.14 million. Analysts expect that MDxHealth will post -0.49 earnings per share for the current year.

Institutional Trading of MDxHealth

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in MDxHealth by 213.9% in the first quarter. Bank of America Corp DE now owns 43,492 shares of the company’s stock valued at $100,000 after acquiring an additional 29,638 shares during the period. Renaissance Technologies LLC boosted its position in MDxHealth by 21.8% in the first quarter. Renaissance Technologies LLC now owns 304,700 shares of the company’s stock worth $701,000 after purchasing an additional 54,600 shares during the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of MDxHealth by 7.1% in the 1st quarter. Perkins Capital Management Inc. now owns 1,476,441 shares of the company’s stock worth $3,396,000 after buying an additional 97,500 shares during the last quarter. XTX Topco Ltd grew its stake in shares of MDxHealth by 220.0% during the 4th quarter. XTX Topco Ltd now owns 40,860 shares of the company’s stock worth $146,000 after acquiring an additional 28,090 shares during the period. Finally, Millennium Management LLC raised its position in shares of MDxHealth by 328.3% in the fourth quarter. Millennium Management LLC now owns 116,831 shares of the company’s stock valued at $417,000 after purchasing an additional 89,553 shares during the period.

About MDxHealth

MDxHealth, headquartered in Mechelen, Belgium, with a U.S. presence in Newton, Massachusetts, is a molecular diagnostics company focused on improving the accuracy of cancer diagnosis and treatment decision making through epigenetic biomarker assays. The company specializes in developing and commercializing tests that detect DNA methylation changes associated with urological cancers, enabling more precise risk stratification and patient management.

MDxHealth’s lead product portfolio includes ConfirmMDx and SelectMDx.