Nuwellis downgraded to Neutral from Buy at Ladenburg

Ladenburg analyst Jeffrey Cohen downgraded Nuwellis to Neutral from Buy without a price target following the Q3 report. The analyst says “lumpiness” for both utilization and console sales are expected to continue going forward while Nuwellis noted target accounts are facing capital constraints. To offset this headwind, the company is offering the consoles via capital purchase and rental model, the analyst tells investors in a research note. The firm cites uncertainty around new product strategy and capital constraints for the downgrade.