Baird: Merge Healthcare sell-off overdone

After Merge Healthcare (MRGE -0.4%collapsed 46% last week on the back of a Q2 report that featured torpid sales and earnings, as well as news of CEO Jeffery Surges' resignation, Baird has come to Merge's defense. The firm believes the healthcare software firm's sell-off is overdone based on a sum-of-the-parts analysis.

Baird maintains its Outperform rating, but has reduced its PT to $4 from $7.

Baird seems to change its mind often about Merge. It was just 2 weeks ago that the firm hiked its PT to $7 from $5.

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