BTIG Research Cuts MDxHealth (NASDAQ:MDXH) Price Target to $4.00

MDxHealth (NASDAQ:MDXH) had its price target dropped by equities researchers at BTIG Research from $7.00 to $4.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 105.13% from the stock’s current price.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of MDxHealth in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

MDxHealth Price Performance

Shares of NASDAQ MDXH opened at $1.95 on Thursday. The stock has a market capitalization of $96.53 million, a price-to-earnings ratio of -2.91 and a beta of 1.60. The business has a 50-day moving average of $2.52 and a 200-day moving average of $3.27. MDxHealth has a fifty-two week low of $1.70 and a fifty-two week high of $5.33.

MDxHealth (NASDAQ:MDXH) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). MDxHealth had a negative net margin of 31.07% and a negative return on equity of 1,078.01%. The business had revenue of $23.90 million during the quarter, compared to analyst estimates of $30.89 million. On average, sell-side analysts expect that MDxHealth will post -0.41 EPS for the current year.

Institutional Trading of MDxHealth

A number of hedge funds and other institutional investors have recently modified their holdings of MDXH. Perkins Capital Management Inc. grew its stake in shares of MDxHealth by 7.1% in the first quarter. Perkins Capital Management Inc. now owns 1,476,441 shares of the company’s stock worth $3,396,000 after purchasing an additional 97,500 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of MDxHealth in the third quarter worth $1,826,000. FreeGulliver LLC grew its stake in shares of MDxHealth by 25.7% in the fourth quarter. FreeGulliver LLC now owns 317,894 shares of the company’s stock worth $1,135,000 after purchasing an additional 65,000 shares during the last quarter. Mink Brook Asset Management LLC grew its stake in shares of MDxHealth by 64.9% in the fourth quarter. Mink Brook Asset Management LLC now owns 263,420 shares of the company’s stock worth $940,000 after purchasing an additional 103,686 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of MDxHealth by 23.3% in the fourth quarter. Renaissance Technologies LLC now owns 250,100 shares of the company’s stock worth $893,000 after purchasing an additional 47,300 shares during the last quarter.

MDxHealth Company Profile

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.