Piper Sandler Has Lowered Expectations for MDxHealth (NASDAQ:MDXH) Stock Price

MDxHealth (NASDAQ:MDXH) had its price objective cut by Piper Sandler from $8.00 to $6.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Lake Street Capital assumed coverage on MDxHealth in a research note on Thursday, October 31st. They issued a “buy” rating and a $7.00 price target for the company.

MDxHealth Trading Down 2.9 %

Shares of NASDAQ:MDXH traded down $0.06 during midday trading on Thursday, hitting $2.03. The company had a trading volume of 126,939 shares, compared to its average volume of 65,474. MDxHealth has a 12-month low of $1.95 and a 12-month high of $4.64. The company has a fifty day moving average of $2.27 and a two-hundred day moving average of $2.59.

MDxHealth (NASDAQ:MDXH) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.13). The company had revenue of $23.32 million during the quarter, compared to analysts’ expectations of $21.48 million. MDxHealth had a negative return on equity of 987.86% and a negative net margin of 49.52%. Sell-side analysts forecast that MDxHealth will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Perkins Capital Management Inc. lifted its holdings in shares of MDxHealth by 70.7% in the 3rd quarter. Perkins Capital Management Inc. now owns 747,375 shares of the company’s stock valued at $1,555,000 after acquiring an additional 309,500 shares during the last quarter. MVM Partners LLC lifted its holdings in shares of MDxHealth by 3.3% in the 3rd quarter. MVM Partners LLC now owns 4,700,457 shares of the company’s stock valued at $9,706,000 after acquiring an additional 150,000 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of MDxHealth by 15.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 57,726 shares of the company’s stock valued at $120,000 after acquiring an additional 7,656 shares during the last quarter.

MDxHealth Company Profile

MDxHealth SA, a commercial-stage precision diagnostics company, provides urologic solutions in the United States, Europe, and internationally. Its testing solutions includes Select mdx, a non-invasive urine test for prostate cancer that measures the expression of two mRNA cancer-related biomarkers; Confirm mdx for prostate cancer tissue test that validates epigenetic test that guides the detection of occult prostate cancer on a patient's previously biopsied negative tissue; and Resolved mdx for urinary tract infection that identifies personalized effective antibiotic options against the patient's infection.