Lake Street Capital Initiates Coverage on MDxHealth (NASDAQ:MDXH)

Lake Street Capital assumed coverage on shares of MDxHealth (NASDAQ:MDXH) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $7.00 target price on the stock.

MDxHealth Price Performance

NASDAQ:MDXH opened at $2.08 on Thursday. MDxHealth has a 1 year low of $1.95 and a 1 year high of $4.64. The stock has a 50-day moving average price of $2.35 and a two-hundred day moving average price of $2.60.

MDxHealth (NASDAQ:MDXH) last posted its quarterly earnings data on Wednesday, August 21st. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.05). The firm had revenue of $22.16 million for the quarter, compared to analyst estimates of $20.66 million. MDxHealth had a negative return on equity of 987.86% and a negative net margin of 50.54%. Research analysts expect that MDxHealth will post -1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in MDxHealth stock. Perkins Capital Management Inc. increased its stake in shares of MDxHealth SA (NASDAQ:MDXH) by 70.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 747,375 shares of the company’s stock after acquiring an additional 309,500 shares during the period. MDxHealth comprises approximately 1.5% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Perkins Capital Management Inc. owned 47.91% of MDxHealth worth $1,555,000 as of its most recent SEC filing.

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.