MDxHealth (NASDAQ:MDXH) Stock Dropped to Hold by Lake Street Capital

MDxHealth (NASDAQ:MDXH) was downgraded by Lake Street Capital from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $0.50 target price on the stock. Lake Street Capital’s price target indicates a potential downside of 17.16% from the company’s current price.

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

MDxHealth Stock Performance

NASDAQ MDXH opened at $0.60 on Friday. The stock’s fifty day moving average is $0.65 and its two-hundred day moving average is $0.93. The firm has a market capitalization of $29.88 million, a P/E ratio of -0.84 and a beta of 1.68. MDxHealth has a fifty-two week low of $0.40 and a fifty-two week high of $5.33.

MDxHealth (NASDAQ:MDXH) last issued its earnings results on Friday, August 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts forecast that MDxHealth will post -0.49 EPS for the current year.

Institutional Investors Weigh In On MDxHealth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new position in shares of MDxHealth in the 2nd quarter valued at $82,000. Bank of America Corp DE grew its holdings in shares of MDxHealth by 213.9% during the 1st quarter. Bank of America Corp DE now owns 43,492 shares of the company’s stock worth $100,000 after purchasing an additional 29,638 shares during the period. Renaissance Technologies LLC increased its position in shares of MDxHealth by 21.8% during the 1st quarter. Renaissance Technologies LLC now owns 304,700 shares of the company’s stock worth $701,000 after purchasing an additional 54,600 shares during the last quarter. Finally, Perkins Capital Management Inc. increased 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 during the last quarter.

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.