RBC drops coverage of Encore Medical

RBC Capital Markets is no longer covering Encore Medical Corp. now that the company has gone private, according to analyst William R. Quirk. Encore announced a definitive merger agreement with Blackstone Capital Partners in a deal that gives Encore shareholders $6.55 in cash per share, or a 36.2% premium. RBC's final rating of Encore was sector perform with above average risk and a $7.00 price target. Shares of the Austin, Texas-based orthopedic device company were up $1.49, or 30.98%, at $6.30 on volume of 9,236,185 shares versus the three-month running average of 342,477 shares. (Nasdaq: ENMC)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.