William Blair Reaffirms “Outperform” Rating for MDxHealth (NASDAQ:MDXH)

William Blair restated their outperform rating on shares of MDxHealth (NASDAQ:MDXH) in a research note released on Thursday morning, RTT News reports.

MDxHealth Stock Up 6.0 %

MDXH opened at $2.82 on Thursday. MDxHealth has a fifty-two week low of $2.15 and a fifty-two week high of $8.51. The business has a 50-day moving average of $2.74 and a 200-day moving average of $3.31. The company has a debt-to-equity ratio of 2.17, a current ratio of 2.42 and a quick ratio of 1.19. The company has a market capitalization of $76.96 million, a PE ratio of -1.52 and a beta of 0.30.

MDxHealth’s stock is going to reverse split on the morning of Friday, December 29th. The 1-10 reverse split was announced on Monday, October 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, December 28th.

MDxHealth (NASDAQ:MDXH) last issued its quarterly earnings data on Wednesday, November 8th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.09). The company had revenue of $19.35 million for the quarter, compared to analyst estimates of $19.30 million. MDxHealth had a negative net margin of 78.05% and a negative return on equity of 217.38%. Equities research analysts forecast that MDxHealth will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MDXH. Alyeska Investment Group L.P. acquired a new position in shares of MDxHealth during the 1st quarter valued at about $1,944,000. Hood River Capital Management LLC acquired a new position in shares of MDxHealth during the 1st quarter valued at about $1,873,000. Ally Bridge Group NY LLC acquired a new position in shares of MDxHealth during the 1st quarter valued at about $1,620,000. Element Capital Management LLC acquired a new stake in MDxHealth in the 1st quarter valued at approximately $1,386,000. Finally, Perkins Capital Management Inc. grew its holdings in MDxHealth by 382.0% in the 1st quarter. Perkins Capital Management Inc. now owns 408,725 shares of the company’s stock valued at $1,324,000 after buying an additional 323,920 shares during the last quarter. Institutional investors and hedge funds own 20.20% of the company’s stock.

About MDxHealth

MDxHealth SA, a commercial-stage precision diagnostics company, provides urologic solutions in the United States, Europe, and internationally. Its novel prostate cancer genomic testing solutions are SelectMDx, a non-invasive urine test; and ConfirmMDx, an epigenetic test, which provide physicians with a clinical pathway to identify clinically prostate cancer while minimizing the use of invasive procedures that are prone to complications.