Piper Sandler Issues Pessimistic Forecast for MDxHealth (NASDAQ:MDXH) Stock Price

MDxHealth (NASDAQ:MDXH) had its target price cut by equities research analysts at Piper Sandler from $8.00 to $6.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 195.57% from the stock’s current price.

Separately, Lake Street Capital started coverage on shares of MDxHealth in a research report on Thursday, October 31st. They set a “buy” rating and a $7.00 price objective for the company.

MDxHealth Price Performance

MDxHealth stock opened at $2.03 on Thursday. The company’s 50-day moving average price is $2.27 and its two-hundred day moving average price is $2.58. MDxHealth has a 52 week low of $1.95 and a 52 week high of $4.64.

MDxHealth (NASDAQ:MDXH) last released its earnings results 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 for the quarter, compared to analyst estimates of $21.48 million. MDxHealth had a negative net margin of 49.52% and a negative return on equity of 987.86%. Equities research analysts forecast that MDxHealth will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MDxHealth

A number of institutional investors and hedge funds have recently modified their holdings of the stock. OneDigital Investment Advisors LLC lifted its position in shares of MDxHealth by 15.3% during 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. MVM Partners LLC lifted its position in shares of MDxHealth by 3.3% during 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, Perkins Capital Management Inc. lifted its position in shares of MDxHealth by 70.7% during 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.

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.