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MMSI

Merit Medical

$43.35

0.6 (1.40%)

, BDX

Becton Dickinson

$219.95

4.55 (2.11%)

06:54
02/15/18
02/15
06:54
02/15/18
06:54

Merit Medical closes purchase of Becton Dickinson divestment assets

Merit Medical (MMSI) has closed the purchase of divestment assets from Becton Dickinson (BDX) in connection with BD's recently completed acquisition of C.R. Bard. The assets acquired are soft tissue core needle biopsy products sold under the trade names of Achieve Programmable Automatic Biopsy System, Temno Biopsy System, Tru-Cut Biopsy Needles as well as Aspira Pleural Effusion Drainage Kits, and the Aspira Peritoneal Drainage System. These products will be sold by Merit's global direct sales force and distribution partners. The purchase price for the product lines and related assets was $100M, subject to adjustment for fluctuations in the value of transferred inventory. Merit financed the acquisition through borrowings under its revolving credit facility. This transaction is expected to be accretive to both GAAP and non-GAAP EPS in 2018, including the anticipated impact of incremental interest expense associated with financing the transaction. Merit's management expects the acquisition to provide incremental revenues on an annualized basis in the range of $42M-48M. Merit's management expects the acquisition to provide 10c-19c in adjusted annualized non-GAAP EPS accretion, 1c-8c in annualized GAAP EPS accretion.

MMSI

Merit Medical

$43.35

0.6 (1.40%)

BDX

Becton Dickinson

$219.95

4.55 (2.11%)

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MMSI Merit Medical
$43.35

0.6 (1.40%)

11/30/17
WELS
11/30/17
NO CHANGE
Target $51
WELS
Outperform
Merit Medical price target raised to $51 from $46 at Wells Fargo
Wells Fargo analyst Lawrence Biegelsen raised his price target for Merit Medical (MMSI) to $51 from $46 to reflect MMSI's recently announced purchase agreement to acquire select Becton Dickinson (BDX) assets. The analyst reiterates an Outperform rating on Merit Medical's shares.
08/28/17
08/28/17
DOWNGRADE
Target $44

Outperform
Merit Medical downgraded to Outperform due to valuation at Raymond James
As previously reported, Raymond James downgraded Merit Medical to Outperform from Strong Buy with a $44 price target citing relative valuation.
08/28/17
RAJA
08/28/17
DOWNGRADE
RAJA
Outperform
Merit Medical downgraded to Outperform from Strong Buy at Raymond James
07/27/17
CHLM
07/27/17
NO CHANGE
Target $50
CHLM
Buy
Merit Medical price target raised to $50 from $42 at Craig-Hallum
Craig-Hallum analyst Charles Haff raised his price target for Merit Medical to $50 from $42 based upon "strong momentum" in virtually every revenue segment and operating leverage that continues to surprise to the upside. The analyst reiterates a Buy rating on the shares.
BDX Becton Dickinson
$219.95

4.55 (2.11%)

02/06/18
PIPR
02/06/18
NO CHANGE
Target $260
PIPR
Overweight
Becton Dickinson price target raised to $260 from $223 at Piper Jaffray
Piper Jaffray analyst William Quirk raised his price target for Becton Dickinson to $260 from $223 following "good" Q1 results and guidance that looks conservative. The analyst believes Becton Dickinson is poised to keep grinding out higher results which in turn will keep the stock moving incrementally higher. He reiterates an Overweight rating on the shares.
01/19/18
01/19/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Becton Dickinson (BDX) reinstated with a Buy at BofA/Merrill. 2. athenahealth (ATHN) initiated with an In Line at Evercore ISI. 3. Corbus Pharmaceuticals (CRBP) initiated with an Outperform at Raymond James. 4. Trade Desk (TTD) initiated with a Buy at Stifel. 5. Intellipharmaceutics (IPCI) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/19/18
BOFA
01/19/18
INITIATION
Target $260
BOFA
Buy
Becton Dickinson reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Bob Hopkins reinstated Becton Dickinson with a Buy and $260 price target saying he sees upside to revenue estimates from CR Bard deal synergies.
01/05/18
01/05/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Becton Dickinson (BDX) initiated with an Overweight at KeyBanc. 2. Syndax (SNDX) initiated with a Buy at B. Riley FBR. 3. Sutherland Asset Management (SLD) initiated with an Outperform at JMP Securities. 4. Nike (NKE) was assumed with a Buy at Buckingham while Under Armour (UA, UAA) was assumed with a Neutral. 5. Regulus (RGLS) initiated with an Outperform at Leerink. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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TWTR

Twitter

$33.97

1.36 (4.17%)

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NKE

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On The Fly
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UA

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UAA

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CHGG

Chegg

$38.57

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Periodicals
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IQ

iQIYI

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GM

General Motors

$36.88

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ENR

Energizer

$45.81

-0.34 (-0.74%)

, FOXA

Fox Corp.

$39.51

-0.52 (-1.30%)

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ENR

Energizer

$45.81

-0.34 (-0.74%)

FOXA

Fox Corp.

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SVMK

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PPG

PPG

$109.63

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, SHW

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PPG

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PSO

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PSO

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CMG

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JKS

JinkoSolar

$18.30

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GBX

Greenbrier

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CPLG

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ELF

e.l.f. Beauty

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VSI

Vitamin Shoppe

$8.08

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$96.45

5.19 (5.69%)

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09:59
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S&P down 1% in early trade as yield curve inverts, EU data disappoints »

The major averages opened…

CHGG

Chegg

$39.29

-0.365 (-0.92%)

09:59
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Chegg drops after Citron calls 'poster child' for academic cheating »

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NOK

Nokia

$5.89

-0.37 (-5.91%)

09:56
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Options
Nokia option volume spikes as shares decline on compliance headlines »

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