Venus Concept downgraded to Hold from Buy at Maxim

As previously reported, Maxim analyst Anthony Vendetti downgraded Venus Concept to Hold from Buy without a price target. While the company’s restructuring plan to reduce expenses and improve operational efficiency is prudent, Maxim is disappointed by the lower-than-expected 4Q22 results and 2023 guidance, the analyst tells investors in a research note. Also, considering the shares are currently trading well below the $1/share Nasdaq listing requirement, the firm anticipates that the company will need to enact a reverse stock split to remain listed by June 12.