William Blair analyst Andrew Brackmann has reiterated their bullish stance on MDXH stock, giving a Buy rating yesterday.
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Andrew Brackmann has given his Buy rating due to a combination of factors including MDxHealth’s strong first-quarter performance and promising future outlook. The company has exceeded consensus expectations with its quarterly revenue and has maintained its full-year revenue guidance, projecting a 21% year-over-year growth. This consistent performance, especially among smaller-cap diagnostic companies, instills confidence in its ability to reach AEBITDA positivity by the second quarter of 2025.
Furthermore, Brackmann believes that MDxHealth’s growth potential is significantly undervalued, with shares trading at less than one times next twelve months’ revenue. The company’s solid commercial infrastructure and the capital required to become self-funding further support this optimistic view. These elements suggest that there is substantial room for the stock’s value to increase over time, justifying the Buy rating.
Brackmann covers the Healthcare sector, focusing on stocks such as NeoGenomics, Guardant Health, and Qiagen. According to TipRanks, Brackmann has an average return of -6.1% and a 32.00% success rate on recommended stocks.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $5.00 price target.