MDxHealth price target lowered to $6 from $8 at Piper Sandler

Piper Sandler lowered the firm’s price target on MDxHealth (MDXH) to $6 from $8 and keeps an Overweight rating on the shares. The firm notes the company announced Q3 results, including revenue of $23.3M/+21% year-over-year that beat Street’s $21.5M. Supporting the above-expected results was balanced growth across the company’s tissue- and liquid-based testing portfolio, and management bumped 2024 guidance for a third consecutive quarter in light of the Q3 overachievement, with 2024 revenue now expected to finish between $87M-$89M/+24-27% year-over-year, Piper adds.