MDxHealth (NASDAQ:MDXH) Announces Earnings Results

MDxHealth (NASDAQ:MDXH) issued its earnings results on Wednesday. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.13), reports. MDxHealth had a negative return on equity of 987.86% and a negative net margin of 49.52%. The business had revenue of $23.32 million for the quarter, compared to the consensus estimate of $21.48 million. MDxHealth updated its FY 2024 guidance to EPS.

MDxHealth Stock Performance

NASDAQ:MDXH traded down $0.06 during trading hours on Friday, reaching $2.03. The stock had a trading volume of 126,939 shares, compared to its average volume of 65,474. MDxHealth has a 52 week low of $1.95 and a 52 week high of $4.64. The company has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $2.58.

Hedge Funds Weigh In On MDxHealth

Large investors have recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in 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 acquiring an additional 7,656 shares in the last quarter. MVM Partners LLC increased its holdings in shares of 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 in the last quarter. Finally, Perkins Capital Management Inc. grew its holdings in shares of MDxHealth by 70.7% during the third quarter. Perkins Capital Management Inc. now owns 747,375 shares of the company’s stock valued at $1,555,000 after buying an additional 309,500 shares during the last quarter.

Analyst Ratings Changes

MDXH has been the topic of a number of recent research reports. Lake Street Capital assumed coverage on MDxHealth in a research note on Thursday, October 31st. They set a “buy” rating and a $7.00 price objective on the stock. Piper Sandler cut their price objective on MDxHealth from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Thursday.

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.