BTIG Research Issues Pessimistic Forecast for MDxHealth (NASDAQ:MDXH) Stock Price

MDxHealth (NASDAQ:MDXH) had its target price reduced by investment analysts at BTIG Research from $7.00 to $4.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 105.13% from the stock’s current price.

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

MDxHealth Trading Up 4.3%

Shares of MDXH opened at $1.95 on Thursday. The stock has a market capitalization of $96.53 million, a P/E ratio of -2.91 and a beta of 1.60. The firm’s fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $3.27. MDxHealth has a 12 month low of $1.70 and a 12 month high of $5.33.

MDxHealth (NASDAQ:MDXH) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). The firm had revenue of $23.90 million for the quarter, compared to the consensus estimate of $30.89 million. MDxHealth had a negative net margin of 31.07% and a negative return on equity of 1,078.01%. As a group, research analysts predict that MDxHealth will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On MDxHealth

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Perkins Capital Management Inc. boosted its position in shares of MDxHealth by 7.1% during the 1st 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 in the last quarter. XTX Topco Ltd boosted its position 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 purchasing an additional 28,090 shares in the last quarter. Millennium Management LLC boosted its position in shares of MDxHealth by 328.3% during the 4th quarter. Millennium Management LLC now owns 116,831 shares of the company’s stock worth $417,000 after purchasing an additional 89,553 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of MDxHealth during the 4th quarter worth about $68,000. Finally, 683 Capital Management LLC bought a new position in shares of MDxHealth during the 4th quarter worth about $384,000.

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.