UTRS - Minerva downgraded at JPMorgan citing lowered guidance

• After a mixed financial performance in Q2 2022, Minerva Surgical ( NASDAQ: UTRS ), a company focused on uterine healthcare needs of women, chose to lower its full-year guidance, a move that has prompted JPMorgan to downgrade the stock to Underweight.
• While results were not far short of expectations, “we are disappointed to see guidance move meaningfully lower,” the analysts led by Robbie Marcus wrote.
• Minerva ( UTRS ) offers endometrial ablation devices, Minerva ES Endometrial Ablation System, and Genesys HTA Endometrial Ablation System.
• The team views the decision to trim guidance as indicating a broader structural slowdown in the endometrial ablation market. That trend, a seasonal slowdown in the current quarter, and a falling cash balance led the firm to downgrade the stock.
• The analysts remove the price target citing the need to see better execution and YoY growth in the second half, particularly in 2023.
• Minerva ( UTRS ) made its public debut in October for $75M in gross proceeds.

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