TD Cowen analyst Dan Brennan lowered the firm’s price target on MDxHealth (MDXH) to $1.50 from $7 and keeps a Buy rating on the shares. The firm said 1Q was disappointing, with pro forma sales about 9% below conensus and they announced its discontinuing its Resolve UTI test which was roughly 16% of sales; after a notice from its local Medicare MAC, seeking to recoup $10.4M in past payments related to a review of historical Resolve claims which the company disagrees with.
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