ORLANDO, Fla., Dec. 18, 2006 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, announced that they have issued a research update on Merge Healthcare (Nasdaq:MRGE).
Lisa Springer, CFA/MBA, RedChip Research Analyst, wrote in the report:
"We initiated coverage of MRGE with a "Buy" recommendation in early February, citing new products and enhanced access to OEM sales channels as reasons to invest. We downgraded these shares from "Buy" to "Hold" in late February when the Company's accounting issues became apparent. Since then, Merge's share price has plummeted to a $6.00 range. While Merge appears to be addressing its problems, the Company is still early in the turnaround process. We note that the Company continues to have a strong balance sheet, with cash and equivalents totaling approximately $1.78 per share and a $7.40 per share book value that exceeds the current share price."
To receive a complimentary copy of the RedChip Independent research update for MRGE, please visit: http://www.redchip.com/independent/subscriber.asp?page=requestMRGE_q3_2006s.
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RedChip Independent Research Disclosure
The analysts contributing to this MRGE RedChip report do not hold any shares of MRGE. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the MRGE RedChip report. Additional information on the securities mentioned in this report is available upon request. This MRGE RedChip report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the MRGE RedChip report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.