We are investigating Merit Medical Systems, Inc. (MMSI) (“Merit” or the “Company”) for potential violations of the federal securities laws.
On July 25, 2019, post-market, Merit announced its financial and operating results for the second quarter of 2019. The Company announced net income of $6.9 million, or $0.12 per share, compared to $10.9 million, or $0.21 per share for the same period in the prior year. Merit’s Chairman and Chief Executive Officer, Fred P. Lampropoulos, cited “a number of factors affecting revenues and gross margins during the second quarter,” including “foreign exchange [and] slower than anticipated conversion and uptake of acquired products.” On this news, Merit’s stock price fell $13.84 per share, or 25.24%, to close at $41.00 on July 26, 2019.