Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of medical device maker Merit Medical Systems
So what: The investment firm in question, Raymond James, upgraded Merit Medical to strong buy from outperform and placed a $15 price target on the stock. Raymond James believes strength from a new line of products will drive better-than-expected revenue growth.
Now what: As always, we want to more or less ignore the temporary pops and drops that analyst upgrades and downgrades can cause. Instead, with regards to Merit Medical, I would focus on the company's next round of earnings to see whether it has properly factored in the costs of building its new manufacturing facilities. Last quarter, the company's stock dove on weaker projected earnings, so for now I still remain a cautious bystander despite today's upgrade.
Craving more input? Start by adding Merit Medical Systems to your free and personalized watchlist so you can keep up on the latest news with the company.
