These Analysts Increase Their Forecasts On MDxHealth After Q4 Results
Portfolio Pulse from Avi Kapoor
MDxHealth SA (NASDAQ:MDXH) reported Q4 sales surpassing estimates with $19.398 million against expected $18.136 million. Despite a GAAP loss of 39 cents per share, exceeding the anticipated 15 cents loss, the company's CEO highlighted significant gross margin expansion and a strong position in precision diagnostics. MDxHealth reaffirmed its 2024 revenue guidance of $79 million to $81 million but saw a 1.3% share price drop to $3.73. Analysts from BTIG and Piper Sandler increased their price targets on MDXH following these results.
March 07, 2024 | 1:20 pm
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MDxHealth reported higher than expected Q4 sales but experienced a share price drop of 1.3% to $3.73. Analysts from BTIG and Piper Sandler raised their price targets on the stock.
Despite the larger than expected quarterly loss, the positive sales report and increased price targets from analysts suggest a potential for short-term stock price recovery. The reaffirmation of 2024 revenue guidance also supports a positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100