UPDATE: Benchmark Company Initiates Merit Medical Systems with Hold on Limited Visibility
In a report published Thursday, Benchmark Company analyst James Terwilliger initiated coverage on Merit Medical Systems (NASDAQ: MMSI) with a Hold rating and $10.00 price target.
In the report, Terwilliger noted, “Our $10.00 price target represents 20 times our adjusted 2013 EPS estimate of $0.53. We believe that visibility is limited as MMSI reported Q1:13 results that missed analyst estimates and also lowered guidance for 2013. We believe that the lowered guidance for 2013 was driven by a slow-down in their core business, integration issues associated with their recent acquisition of Thomas Medical Products (formerly a unit of GE Healthcare) and lack of visibility regarding new product launches.”
Merit Medical Systems closed on Wednesday at $10.00.
Latest Ratings for MMSI
|Jan 2015||Barrington Research||Initiates Coverage on||Market Perform|
|Jul 2014||Raymond James||Downgrades||Strong Buy||Outperform|
|Oct 2013||Raymond James||Upgrades||Market Perform||Strong Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.