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MMSI

Merit Medical

$34.66

-0.03 (-0.09%)

18:01
01/13/20
01/13
18:01
01/13/20
18:01

Starboard Value confirms 9% activist stake in Merit Medical

In a regulatory 13D filing, Starboard Value disclosed taking a 9.0% activist stake in Merit Medical. Starboard indicates that it "may in the future take such actions with respect to their investment as they deem appropriate including, engaging in communications with management and the Board of Directors of the Issuer, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons' investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure, potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer's financial and/or operational performance."

MMSI Merit Medical
$34.66

-0.03 (-0.09%)

10/31/19
BRRR
10/31/19
NO CHANGE
Target $31
BRRR
Outperform
Merit Medical price target lowered to $31 from $59 at Barrington
Barrington analyst Michael Petusky lowered his price target for Merit Medical Systems to $31 from $59 saying the company's profitability in Q3 fell well short and its guidance was reduced significantly. Merit's "somewhat disappointing" revenue growth rate was less to blame for the quarter's profitability miss than the company's lack of discipline regarding operating expenses, Petusky tells investors in a post-earnings research note. He keeps an Outperform rating on the shares.
12/12/19
WELS
12/12/19
DOWNGRADE
Target $26
WELS
Underweight
Merit Medical downgraded to Underweight from Equal Weight at Wells Fargo
Wells Fargo analyst Lawrence Biegelsen downgraded Merit Medical Systems to Underweight from Equal Weight with a $26 price target.
12/12/19
WELS
12/12/19
DOWNGRADE
WELS
Underweight
SeaSpine, Glaukos double-downgraded to Underweight at Wells Fargo
Wells Fargo analyst Lawrence Biegelsen double-downgraded Glaukos (GKOS) and SeaSpine (SPNE) to Underweight from Overweight as part of his broader Medical Technology industry research note. The analyst expects the medical device sector to be part of the "politics of healthcare" storm heading into next year's elections given the focus on drug pricing and increasing access to healthcare, even though he sees the broader risks as "manageable" for another year with "medtech tax" likely to be suspended. Biegelsen also cuts his rating on Merit Medical (MMSI) to Underweight from Equal Weight, but offers a positive view on Medtronic (MDT), citing its accelerating growth story trading at a discount relative to peer valuation and sees Teleflex (TFX) as "among the best positioned" in his coverage with UroLift as its key growth accelerator.
12/12/19
WELS
12/12/19
DOWNGRADE
Target $26
WELS
Underweight
Merit Medical downgraded to Underweight from Equal Weight at Wells Fargo
Wells Fargo analyst Lawrence Biegelsen downgraded Merit Medical Systems to Underweight from Equal Weight with a $26 price target as part of his broader Medical Technology industry research note. Biegelsen cites the challenging trends coming out of 2019 and a lack of visibility going forward after the company pulled its 2020 guidance for the downgrade. Biegelsen tells investors that he believes what came to light in 2019 was Merit's prioritization of top line growth along with multiple acquisition integrations at the expense of earnings growth.

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SNCA

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DHT

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$NSD

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$NYE

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BKR

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SNCA

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