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Fly News Breaks for July 26, 2019
Jul 26, 2019 | 06:41 EDT
Wells Fargo analyst Lawrence Biegelsen downgraded Merit Medical Systems to Market Perform from Outperform and lowered his price target for the shares to $46 from $71. Given the "soft" Q2, product mix dynamics, and some incremental headwinds from currency, China tariffs and Brightwater dilution, Merit Medical materially lowered its full-year gross margin and non-GAAP earnings outlook, Biegelsen tells investors in a research note. The analyst cite a lack of visibility and clarity around the earnings guidance reduction for his downgrade.