MDxHealth SA

MDXH · NASDAQ

$0.1833−$0.0007 (−0.38%)TodayMarket closed · Oct 23, 7:59 PM ET

Prev close $0.184

MDXH analyst rating

BuyConsensus of 3 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy2
Hold1
Underperform0
Sell0

12-month price target · 6 analysts

Average $1.15 (+526.0% upside)

Low: $0.505
Now: $0.1833
High: $2.10

Upgrades and downgrades

The latest rating actions, newest first

MDXH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Oct 19, 2026	Downgrade	Buy → Neutral	—	54%
BTIG	Aug 21, 2026	Maintains	Buy	$4.00 → $2.00	54%
Lake Street	Aug 14, 2026	Maintains	Buy	$5.00 → $3.00	26%
Lake Street	May 14, 2026	Maintains	Buy	$9.00 → $5.00	26%
TD Cowen	May 14, 2026	Maintains	Buy	$7.00 → $1.50	59%
BTIG	May 14, 2026	Maintains	Buy	$7.00 → $4.00	54%
BTIG	Dec 23, 2025	Maintains	Buy	$7.00	54%
TD Cowen	Nov 13, 2025	Maintains	Buy	$5.00 → $7.00	59%
Lake Street	Nov 13, 2025	Maintains	Buy	$7.00 → $9.00	26%
BTIG	Nov 13, 2025	Maintains	Buy	$6.00 → $7.00	54%

The case for and against

Updated Oct 17, 2026

Bull case

MDxHealth is well positioned as a focused prostate cancer diagnostics leader after completing the Resolve wind-down, removing the $10.4M Novitas liability, and sharpening its portfolio to three core tests. Its recent ExoDx acquisition, expected to add $20M+ of annual revenue, alongside GPS’s double-digit growth potential and NCCN guideline support, strengthens the company’s competitive moat and should improve commercial execution across a urology market expected to grow 5%-10%+ in the coming years. Despite leverage and contingent payments to Exact Sciences, 2025 revenue of about $108M, 20% growth, and a path to positive Adj. EBITDA margin by 2028 support a constructive long-term fundamental outlook.

Bear case

MDxHealth is facing a deteriorating fundamental profile as the discontinuation of its Resolve UTI test removed roughly 16% of sales, triggered by a Medicare MAC dispute seeking to recoup $10.4M in past payments and forcing management to cut its 2026 revenue guide to $110M-$115M from $137M-$140M. Even outside Resolve, 1Q results were weak, with pro forma sales about 9% below consensus and tissue and liquid testing both underperforming, suggesting that the sales force restructuring has not yet translated into durable demand momentum. Although the UnitedHealthcare win for GPS supports reimbursement access effective April 1, 2023, the average realized GPS price of about $2,200 remains well below the ~$3,870 Medicare price, limiting margin leverage and leaving the stock vulnerable to further execution and reimbursement risk.

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