MDxHealth downgraded to Market Perform from Outperform at William Blair

William Blair downgraded MDxHealth (MDXH) to Market Perform from Outperform without a price target The company’s Q1 revenue came in well below expectations and its full-year revenue guidance was cut by just under 20% at the midpoint, the analyst tells investors in a research note. The firm says given the given the uncertainty associated with the reimbursement environment for Resolve in this non-MolDX jurisdiction, MDxHealth is exiting the Resolve business and closing the Texas lab. “This is at least a near-term shock to the thesis,” the firm says.