MDxHealth CEO acquires company shares worth $80,000

MDxHealth SA (NASDAQ:MDXH), a company specializing in medical laboratory services with a market capitalization of $76 million, disclosed that Michael McGarrity, the firm’s Chief Executive Officer and Board member, purchased 50,000 ordinary shares on Thursday. The total investment made by McGarrity amounted to approximately $80,000, as per the report filed with the U.S. Securities and Exchange Commission (SEC). The purchase comes as the stock trades near its 52-week low of $1.55, having declined 12% in the past week.

The transaction took place on March 6, 2025, and was publicly announced the following day. The company, headquartered in Herstal, Belgium, emphasized that this information is furnished and not filed for the purposes of the Securities Exchange Act of 1934, nor is it incorporated by reference in any other SEC filings.

The CEO’s acquisition of shares is not typically mandated to be disclosed except in specific circumstances such as in the company’s Annual Report on Form 20-F. McGarrity has not committed to reporting further transactions unless legally required.

This press release statement serves as the basis for this news article and provides the latest verified information regarding the CEO’s recent investment in MDxHealth. The company has not provided any additional details about the purchase or its potential implications for investors or the market.

In other recent news, MDxHealth SA ADR reported impressive financial results for the fourth quarter of 2024. The company surpassed earnings expectations with an earnings per share (EPS) of -$0.14, outperforming the anticipated -$0.19. Revenue also exceeded forecasts, reaching $24.7 million compared to the expected $22.9 million. This represents a significant year-over-year growth of 28%, driven by increased billable volume and strong test performance.

MDxHealth’s operating loss decreased by 27% to $4.6 million, while the net loss fell by 36% to $6.8 million, indicating improved financial health. Furthermore, the company achieved a 68% improvement in adjusted EBITDA, which was negative $1.4 million for the quarter. Looking ahead, MDxHealth aims to achieve adjusted EBITDA positivity by the first or second quarter of 2025, supported by a revenue guidance of $108-110 million for the year.

Analysts have noted the company’s strong performance, with firms like Lake Street and William Blair showing interest in MDxHealth’s growth trajectory. The company remains confident in its sustainable growth, despite conservative expectations for its germline testing revenue. MDxHealth’s strategic focus on operating profitability and market conversion continues to drive its financial success in the competitive urology diagnostics market.

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