Piper Sandler Cuts MDxHealth (NASDAQ:MDXH) Price Target to $6.00

MDxHealth (NASDAQ:MDXH) had its target price lowered by analysts at Piper Sandler from $8.00 to $6.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 171.49% from the stock’s current price.

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

MDxHealth Stock Up 6.2 %

Shares of MDXH traded up $0.13 during midday trading on Thursday, reaching $2.21. 100,611 shares of the stock were exchanged, compared to its average volume of 65,378. MDxHealth has a 12-month low of $1.95 and a 12-month high of $4.64. The firm has a 50 day simple moving average of $2.31 and a 200-day simple moving average of $2.59.

MDxHealth (NASDAQ:MDXH) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.13). The business had revenue of $23.32 million for the quarter, compared to the consensus estimate of $21.48 million. MDxHealth had a negative net margin of 50.54% and a negative return on equity of 987.86%. Equities research analysts forecast that MDxHealth will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On MDxHealth

A number of institutional investors have recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings 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 worth $120,000 after buying an additional 7,656 shares during the period. MVM Partners LLC boosted its holdings in MDxHealth by 3.3% during the third 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 period. Finally, Perkins Capital Management Inc. grew its position in shares of MDxHealth by 70.7% in the third quarter. Perkins Capital Management Inc. now owns 747,375 shares of the company’s stock valued at $1,555,000 after purchasing an additional 309,500 shares during the last quarter.

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.