MDxHealth (NASDAQ:MDXH) Stock Gets Downgrade from Lake Street Capital

MDxHealth (NASDAQ:MDXH) was downgraded by research analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $0.50 price objective on the stock. Lake Street Capital’s price objective indicates a potential downside of 17.16% from the stock’s previous close.

MDXH has been the subject of several other reports. BTIG Research lowered their price target on MDxHealth from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Weiss Ratings cut MDxHealth from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 8th. Wall Street Zen upgraded MDxHealth to a “sell” rating in a report on Saturday, August 15th. Finally, Craig Hallum cut MDxHealth from a “buy” rating to a “hold” rating in a report on Friday. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1.33.

MDxHealth Stock Performance

Shares of MDXH stock opened at $0.60 on Friday. The firm’s 50 day moving average price is $0.65 and its 200-day moving average price is $0.93. MDxHealth has a one year low of $0.40 and a one year high of $5.33. The firm has a market cap of $29.88 million, a P/E ratio of -0.84 and a beta of 1.68.

MDxHealth (NASDAQ:MDXH) last posted its earnings results on Friday, August 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. The company had revenue of $27.21 million during the quarter, compared to analyst estimates of $26.14 million. As a group, research analysts predict that MDxHealth will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On MDxHealth

Several large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new stake in MDxHealth during the 2nd quarter worth approximately $82,000. Bank of America Corp DE grew its stake in shares of MDxHealth by 213.9% in the first quarter. Bank of America Corp DE now owns 43,492 shares of the company’s stock worth $100,000 after acquiring an additional 29,638 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 acquiring an additional 54,600 shares in the last quarter. Finally, Perkins Capital Management Inc. increased its position in shares of MDxHealth by 7.1% during the first quarter. Perkins Capital Management Inc. now owns 1,476,441 shares of the company’s stock worth $3,396,000 after acquiring an additional 97,500 shares during the period.

MDxHealth Company Profile

MDxHealth is a precision diagnostics company focused on improving the detection, diagnosis and management of cancer. The company develops and commercializes molecular and genomic tests designed to help physicians assess cancer risk, guide treatment decisions and monitor patients, with a primary focus on urological cancers.

Its product portfolio includes ConfirmMDx, a tissue-based test intended to help identify men who may have clinically significant prostate cancer after a prior negative biopsy; SelectMDx, a urine-based test that helps assess the likelihood of clinically significant prostate cancer; and ResolveMDx, a molecular test designed to support prostate cancer risk assessment.