MDxHealth price target lowered to $10 from $15 at Piper Sandler

Piper Sandler lowered the firm’s price target on MDxHealth to $10 from $15 and keeps an Overweight rating on the shares after revising 2023 and 2024 estimates for the previously discussed timeline delay for Select mdx reimbursement, which is pushing back the revenue ramp the firm had previously anticipated by about six months. The firm is also taking "a more measured approach" with respect to the gross margin uplift in the near to intermediate term as a result of this delay in anticipated revenue contribution.