MDxHealth (NASDAQ:MDXH) Downgraded by Craig Hallum to “Hold”

MDxHealth (NASDAQ:MDXH) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

A number of other equities research analysts have also recently commented on MDXH. Wall Street Zen raised shares of MDxHealth to a “sell” rating in a research note on Saturday, August 15th. Lake Street Capital set a $3.00 target price on shares of MDxHealth and gave the company a “buy” rating in a report on Friday, August 14th. BTIG Research decreased their target price on shares of MDxHealth from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 21st. Finally, Weiss Ratings lowered shares of MDxHealth from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MDxHealth presently has an average rating of “Hold” and an average price target of $1.33.

MDxHealth Stock Down 4.4%

MDxHealth stock opened at $0.60 on Friday. The firm has a market cap of $29.88 million, a price-to-earnings ratio of -0.84 and a beta of 1.68. MDxHealth has a 52 week low of $0.40 and a 52 week high of $5.33. The business’s 50-day moving average price is $0.65 and its 200 day moving average price is $0.93.

MDxHealth (NASDAQ:MDXH) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. The company had revenue of $27.21 million for the quarter, compared to analysts’ expectations of $26.14 million. Equities analysts expect that MDxHealth will post -0.49 EPS for the current year.

Hedge Funds Weigh In On MDxHealth

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its position in MDxHealth by 213.9% during the first 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of MDxHealth by 21.8% in the first quarter. Renaissance Technologies LLC now owns 304,700 shares of the company’s stock valued at $701,000 after buying an additional 54,600 shares in the last quarter. Perkins Capital Management Inc. increased its position in shares of MDxHealth by 7.1% in the first quarter. Perkins Capital Management Inc. now owns 1,476,441 shares of the company’s stock valued at $3,396,000 after buying an additional 97,500 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of MDxHealth in the second quarter valued at approximately $82,000.

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.