William Blair analyst Andrew Brackmann has reiterated their bullish stance on MDXH stock, giving a Buy rating today.
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Andrew Brackmann has given his Buy rating due to a combination of factors that highlight MDxHealth’s strategic and financial positioning. The company recently reported second-quarter results that met expectations, including achieving AEBITDA positivity, which is a significant milestone. Additionally, MDxHealth announced the acquisition of Exosome Diagnostics, a move that is expected to enhance their product offerings and market fit, particularly with the inclusion of the ExoDx Prostate test.
Financially, the acquisition terms are advantageous, with a total consideration of $15 million spread over five years, which is favorable compared to the asset’s previous acquisition cost. This acquisition is anticipated to be synergistic, potentially boosting MDxHealth’s revenue by 30% by 2026 and contributing positively to AEBITDA by the fourth quarter of 2025. The strategic alignment and strong execution track record of MDxHealth’s management further support the Buy rating, as the company is well-positioned for long-term growth and profitability.
In another report released today, BTIG also reiterated a Buy rating on the stock with a $6.00 price target.