MDxHealth (NASDAQ:MDXH) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

MDxHealth (NASDAQ:MDXH) posted its quarterly earnings data on Wednesday. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.13), reports. The business had revenue of $23.32 million during the quarter, compared to analysts’ expectations of $21.48 million. MDxHealth had a negative net margin of 49.52% and a negative return on equity of 987.86%. MDxHealth updated its FY 2024 guidance to EPS.

MDxHealth Stock Performance

Shares of MDXH traded down $0.06 during mid-day trading on Friday, reaching $2.03. 126,939 shares of the company’s stock traded hands, 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 business’s 50-day moving average price is $2.27 and its 200-day moving average price is $2.58.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Perkins Capital Management Inc. increased its holdings in MDxHealth by 70.7% in the third quarter. Perkins Capital Management Inc. now owns 747,375 shares of the company’s stock worth $1,555,000 after buying an additional 309,500 shares during the last quarter. MVM Partners LLC increased its holdings in 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 buying an additional 150,000 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of MDxHealth by 15.3% during the third 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 period.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MDXH. Lake Street Capital began coverage on MDxHealth in a research note on Thursday, October 31st. They set a “buy” rating and a $7.00 price target on the stock. Piper Sandler cut their price objective on MDxHealth from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday.

About MDxHealth

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.